Question

Q.24. Journalise the following transaction and prepare 'Magadh Trading Co. Accounting 3
the books of Sri Satish sah.
2018 : May 5 credit purchase of good from Magadh Trading Co. Rs. 1,00,000
May 15 Paid to Magadh Trading Co. By cheque Rs. 50,000.
May 20; cash purchase of goods from Magadh trading co. Rs. 30,000​

Answer 1

Answer:

books of Sri Satish sah 2018

May 5

credit puchase a/c. (Dr). 1,00,000

to Magadh trading. a/c 1,00,000

(being credit purchase of good from Magadh trading)

May 15

magadh trading co a/c. (Dr) 50,000

to cash. a/c. 50,000

(being paid to Magadh trading co. by cheque)

May 20

purchase. a/c. (Dr). 30,000

to Magadh trading. co. a/c. 30,000

(being Cash purchase of goods from Magadh trading co)

Explanation:

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