Question

Pass journal entries and prepare Furniture Account in the
ledger
2020
Jan. 1 Furniture purchased for cash 20,000
Jan. 5. Furniture sold for cash 2000
Jan. 12. Further Furniture purchased * 8,000
Jan. 18. Purchased building for cash 1,000
Jan. 25 Furniture withdrawn from business for personal 2500​

Answer 1

Answer:

1. Furniture A/C. Dr

To, cash A/c

2. Cash A/C Dr

To, furniture A/C

3. same as no 1

4. building A/C Dr

To cash A/c