Question

Pass journal entries for the following transactions and post them in the ledger accounts.
2017 June 1 Basu started business with cash 50,000
4
Purchased furniture by paying cash for 6,000
7 Purchased machinery on credit from Harish 10,000
10 Bought goods for cash 4,000
18 Paid insurance premium 100

Answer 1

Answer:

cash a/c dr 50,000

to capital a/c

furniture a/c dr

to cash a/c 6,000

machinery a/c dr

to Harish a/c 10,000

purchase a/c dr

to cash a/c 4,000

insurance a/c dr

to cash a/c 100