Question

Journalize the following transactions in the books of Chandu, 2018:
Chandu started business with * 25 Lakh of which 20% amount was borrowed from his friend
Shaurabh.
October 1
October 5
Office furniture purchased from Furniture Mart for 1,25,000 and one Laptop purchased for
35,500.
October 6
Goods purchased from KC worth 4.5 Lakh at 10% trade discount and 40% of the amount
was paid in cash.
October 10
Goods sold to Rajnee for 3.2 Lakh at 20% trade discount and received one-fifth of the
amount in cash.
October 14
Goods destroyed by fire of 52,000 which was uninsured.
October 18
Paid to KC 1,85,000 and discount received 3,700.
October 22
Received from Rajnee * 2 Lakh in full settlement of account.
October 26
Goods costing 4,500 (Net selling price 5,400) taken away by Chandu for personal use.​

Answer 1

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Answer 2

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