Question

Q5. Pass Journal entries in the books of Hari Shankar & Co. from the followin
2017
April 1 Commenced business with cash=50,000
2 Purchased goods from Subhash=20,000
4 Sold goods to Ramnath=15,000
6 Ramnath returned defective goods=1000
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Answer 1

Answer:

April 1     cash a/c      Dr                         50,000

             To Harishankar capital a/c                       50,000

          (being harishankar commenced business)

April 2      Purchasea/c   Dr                         10,000

                To sbhash a/c                                    10,000

          (being goods purchased from subash)

April 4      Ramnath a/c    Dr                        15,000

                To sales a/c                                      15,000

          (being goods sold to ramnath)

April 6      sales return a/c  Dr                    1,000

                To Ramnath a/c                                    1,000

         (being goods returned by ramnath)