Question

rakesh started business = 150000.
deposited money in bank= 80000.
purchased goods from mahesh through credit card=25000.
sold goods 10000 to mohan for 14000.
commission received by cheque and deposited in the same bank =20000.
paid office rent through ECS =6000.
sold goods to raman for 15000 of which 5000 was received at once.

Answer 1

Answer:

Journal entries

1)cash a/c Dr 150000

to capital a/c 150000

2)bank a/c Dr 80000

to cash a/c 80000

3)purchase a/c Dr 25000

to mahesh a/c 25000

5)by rent a/c Dr 6000

to ecs a/c 6000