Question

Journalise the following transactions in the books of Mathur Bros.
2018
Feb. 1
Started business contributing 50,000 in cash; 4,50,000 in
cheque and building valued '20,00,000.
Feb. 5
Purchased goods from Manohar Lal of the list price of
50,000 for 46,000.
Feb. 24
Feb. 26
Sold goods to Kishore & Co. of the list price of 40,000 for
38,000.
Sold to Kanika & Co. goods costing 1,00,000 at 20% profit,
allowing 10% trade discount and 5% cash discount. Kanika &
Co. made 40% payment immediately by cheque.
(6 Marks)​

Answer 1

Answer:

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