Question

prepare a journal from. the following transaction
Manu started business with cash 50000
Purchased furniture for 1500
Purchased goods on credit 20000
Sold goods on cash (cost 500)for 700
Received rent 1200
Purchased goods for cash 1000
Withdrew for personal use 700​

Answer 1

Answer:

Cash A c Dr 50,000

To Capital A c 50000

Furniture A c Dr 1500

To Cash A c. 1500

Purchase A c Dr 20,000

To Creditors A c 20,000

Cash A c Dr. 700

To Sales A c 700

Cash A c Dr 1000

To Rent A c 1000

Drawings A c Dr 1000

To Cash A c. 1000

Explanation:

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