Question

Rajesh commenced business with cash
(ii) Bought goods for cash
(iii) Bought goods on credit
(iv) Purchased furniture
(v) Cash paid to creditors
(vi) Received interest
(vii) Paid rent
40.000
7.000
5,000
9,000
3,000
600
800​

Answer 1

Answer:

option vii pls follow me and like

Answer 2

                                                JOURNAL ENTRY

The following journal entry will be passed applying the golden rules for assets, liabilities, expenses, and incomes.

1.) Cash A/c             -------dr           40,000

                To Capital A/c                                              40,000

           (being goods purchased from cash)

2.) Purchases A/c             -------dr         7,000

                To Cash A/c                                              7,000

           (Being goods purchased from cash)

3.) Purchases A/c             -------dr           5,000

                To Creditor A/c                                              5,000

           (Being goods purchased on credit)

4.) Furniture A/c             -------dr           9,000

                To Cash A/c                                              9,000

           (Being furniture purchased from cash)

5.) Cash A/c                    -------dr           3,000

                To Creditors A/c                                         3,000

           (Being cash paid to creditors)

6.) Cash A/c               -------dr           600

                To Interest A/c                                              600

           (Being interest received in cash)

7.) Rent A/c                  ------dr            800

                  To Cash A/c                                      800

           (being rent paid from cash)

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