Question

Journalise the following transactions in the books of Raj Deshpande: 2020 April 1 Debit balances : Cash in hand 718,000. Cash at bank 25,600, Stock of goods 320,000, Furniture 4,000 and Building 20,000. Sourav 2,700, Nitin 1,500, Ashwini 2,000, Credit Balances : Sunny 5400, Sahil and Co. 9,000 and Aishwaraya Rai 5,500. Mrs S s loan 20,000. April 3 Purchased goods worth 10,000 less 20% trade discount and 5% cash discount April 7 Sold goods to Vinod on credit 12.000 April 11 Vinod became insolvent and could pay only 50 paise in a rupee. April 15 Bought 100 shares in Ambani Electronic Lid. @ 10 per share and paid brokerrage 40 April 19 Paid to Babu Interest on loan 250. April 24 Goods worth 3 800 given as charity April 27 Depreciate machinery @ 10% on 60,000 April 30 Amount due from Kumar previously written off as bad, now recovered 2.000 April 30 Income tax paid by cheque 800.​

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