Question

Pass journal entries of the following transactions in the books of Anubhav:
2005
Jan. 01
Started business with cash * 40,000; Goods 30,000 and Furniture worth * 10,000.
Jan. 03 Purchased goods from Anil of list price * 30,000 at 10% trade discount.
Jan. 06 Returned goods to Anil of list price 5,000.
Jan. 09 Paid amount due to Anil under cash discount of 2%.
Jan. 10 Sold
Sold goods to Balbir of the list price of * 35,000 at 10% trade discount
Jan. 13
Balbir returned goods of list price 6,000.
Jan. 17 Received 25,500 from Balbir in full settlement of his account.
Jan. 20 Purchased goods from Aruna 7,000 and Taruna * 8,000.
Jan 23 Settled the account of Aruna by payment of 6,800.
Jars 27
Paid Income tax * 3,000 and insurance premium of goods * 2,000.
Ja 29 Received rent 600 and commission 400 from Mohan.
Purchased goods from Nikita of list price 15,000 less 10% trade discount and 3%
cash discount.
Jin. 31 Sold goods to Aamir Khan of the list price 50,000 at 10% trade discount and 2%
cash discount. He paid 60% amount in cash.
Ans. Grand Total 2.83.500
Ja 30​

Answer 1

Answer:

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