Question

Q- Pass the necessary Journal entries for the following transactions:
2020
April 1 Deposited in bank for opening a Current Account.....10000
April 2 Withdrawn from bank ...........5000
April 5 Received a cheque from Ramesh to whom goods were sold for * 12,000 last year
Allowed him 1% discount on payment
April 7 Ramesh's cheque deposited in bank
April 9 Ramesh's cheque dishonoured (bank charges 20)
April 20 Ramesh settled his account by issuing cheque including 60 for interest...12080
April 21 Cash directly deposited by Raja (Customer) in bank account .........8000
April 23 Bank draft got issued in favour of M/s Lal & Sons 5,000. Bank charges 700
April 28 A bill of exchange of 4,000 (due after one month) discounted from bank for 3,800
April 30 Bank charges debited by bank..............400
April 30 Goods sold for cash 7,000 and half of the sale proceeds deposited in bank​

Answer 1

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