Journalize the following?
Rahul started business with cash 100000
Paid into bank 60000
Bought good from m/s singh & co. On credit 20000
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Answer:
1) debit cash account by 100000 and credit capital account by 100000
2)Debit bank account by 60000 and credit cash account by 60000
3) Debit purchase account and credit m/s singh & co.account by 20000
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