Journalize the following transactions, 5. 2021 March 1: commenced business with cash 350,000 March 5: purchased goods for ? 10,000 and paid by checue, March 10: Used goods from business for personal purposes 20,000. March 15: sold goods to Ajay 250,000, paid by cheque. March 18: purchased machinery from Arun 950,000, March 19: Paid LIC Premium by Chegue 710,000 March 20: Withdrew from cash for personal use * 5.000, March 31: paid for salary: 3500, March 31: Withdrew from bank for office use %1,000.
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1. cash dr. to capital 350000
2. purchase dr. to bank overdraft 10000
3. drawing dr. to purchase 20000
4. Bank dr. to sales 250000
5. machine dr. to arun 950000
6. lic premium dr. to bank 240000
to bank overdraft 480000
7. drawing dr. to cash 5000
8. p&l dr. to salary 3500
9. salary dr. to cash 3500
10. cash dr. to bank overdraft 1000
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