Question

Q.8 Journalize the following transactions of M/s Malika Fashion House.
(i) June 05 - Business started with cash 1,00,000
(ii) June 08 - goods purchased on credit from Mohan 25,000
(iii) June 09 - sale of goods on credit to Ram 20,000​

Answer 1

Answer:

1. cash account. dr. 100000

To capital account. 100000

2. Purchase account. dt 25000

ToMohan. 25000

3. Ram. dr. 20000

To sales account. 20000