Journalise the following transactions in the books of Saleem Javed, assuming all
ansactions have occurred in the State of J & K charging CGST 6% and SGST 6% :
2019
Jan. 1 Commenced business with cash * 2,00,000 and bank balance 3,00,000.
Jan. 4 Purchased goods costing 80,000 from Sharad less 20% trade discount and 5% cash
discount and paid 70% by cheque.
Jan. 7 Paid 34,300 to Latif by cheque after deducting 2% cash discount.
dan. 10 Sold goods costing * 60,000 at a profit of 20% on cost less 10% trade discount and
5% cash discount to Prithvi and received 50% by cheque.
Jan. 13 Shahrukh who owed 30,000 has become bankrupt and 40% is recovered from his
estate.
dan. 15 Received cheque for bad debts written off earlier 20,000.
Withdrew from bank * 10,000 for personal use and * 15,000 for office use.
4,000.
3,000 and for residence of proprietor
24 Water bill paid by cheque for office
El Received 28,000 from sale of goods including GST.
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