Question

Q.3 Journalise the following transactions 2016 Jan (10)

1. Business commenced by Mr. Naik with cash 1,50,000 which includes ₹3,500 as loan taken from Shah @ 12% p.a. goods 40,000 furniture 30,000 and Machinery 20,000.
2. Sold goods to Taral worth ₹30,000 @ 12.5% T.D. and 2% C.D. terms, one fourth of the amount received by cheque which is deposited into bank. 3. Bought goods from Suresh worth 30,000 on credit.
4. Paid house rent 10,000.
5. Deposited 1,05,000 in bank
6. Paid rent 350 and Electricity bill ₹1,375
7.Credit sales to Anmol 8,000 less 3% trade discount
8. Uninsured goods worth 1,126 destroyed by fire.​

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