Question

Mahindra & Mahindra Limited is an Indian multinational car manufacturing corporation headquartered
in Mumbai. It is one of the largest vehicle manufacturers by production in India and the largest
manufacturer of tractors in the world. The following transactions are taken from their books for the month
of August 2019:
August 1 Opening Balance: Cash Rs. 55,000 and Bank Rs. 1,25,000
3 Received cheque from Parry India Ltd Rs. 60,000
5 Issued cheque to Tata Steel Ltd Rs. 42,000
7 Cash and Cheques deposited into Axis Bank Rs. 75,000
11 Finished inventories sold to TVS Motors ltd Rs. 35,000 on Account
13 Paid Electricity Charges using ECS Rs. 3,500
14 Received cheque from TVS Motors for Rs. 34,500 full settlement
15 Withdrawn from Axis Bank for Office petty Expenses Rs. 12,500
Required: (a) Prepare a Three Column Cash Book of Mahindra and Mahindra.
(b). Discuss the impact of Contra Entries in the above transactions.
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Answer 1

Answer:

thanks for free points

Answer 2

Answer:

Thank you very much......