Question

Q. 9. Pass Journal entries in the books of Raghunath Bros. from the following
transactions :
2016
June 1 Raghunath Bros. Started business with cash 380,000; Goods 340,000 and
furniture 520,000.
June 2 Sold goods to Nandlal of the list price of 320,000 at trade discount of 10%.
June 4 Nandlal returned goods of the list price of 34,000.
June 8 Received from Nandlal *14,150 in full settlement of his account.
June 10 Purchased goods from Brij Mohan of the list price of 10,000 at 15% trade discount
June 13 Returned goods to Brij Mohan of the list price of 1,000.
June 16 Settled the account of Brij Mohan by paying cash, under a discount of 4%.
June 18 Purchased goods from Anil 35,000; Sunil 10,000.
June 19 Paid cash to Anil 1,900 and discount received 100.
June 20 Paid 9,800 to Sunil in full settlement of his account.
June 20 Bought a 'Table Fan' for 8,000 for the domestic use of Raghunath.
June 25 Sold goods for cash of the list price of 8,000 at 10% trade discount and 3% cash
discount.
June 30 Paid Rent 8,000; Trade Expenses 37,000 and Travelling Expenses 3,800.
[Ans. Total 2,54,000.]​

Answer 1

Answer:

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