Question

Journalize the following transactions.

2015 Mar.
1 Mr. Prasad commenced business with cash 50,000

2 Deposited in bank account 15,000

5 Bought furniture by cheque 2,000

8 Sold goods to Aruna and Co. 2,500

10 Paid Karthik by cheque 925 discount 75

15 Cash sales 25,000

18 Withdraw goods for personal use 500

25 Paid for advertisement 500

28 Withdraw from bank for office use 1000

31 Received commission 1,500​

Answer 1

Explanation:

1 cash a/c dr 50000

To capital a/c cr 50000

2 bank a/c dr 15000

To cash a/c cr 15000

5 furniture a/c dr 2000

To bank a/c cr 2000

8 Arun and co. a/c dr 2500

To sales a/ c cr 2500

10 In discount I have doubt

15 cash a/c dr 25000

To sales a/c cr 25000

18 drawing a/c dr 500

To cash a/c cr 500

25 Advertisment a/c dr 500

To cash a/c cr 500

28 cash a/c dr 1000

To bank a/c cr 1000

31 cash a/c dr 1500

To commission a/c cr 1500