Question

Record the following transactions in Jo urnal. Post them into ledger and prepar e a Trial Balance.

Jan 1; Started business with cash Rs. 8 o,ooo

Jan 2; Bought furniture for cash Rs.

00

Jan 10 Bought merchandise for cash R

s. 3,000

Jan 1 5 Bought merchandise on credit f rom Iqbal Rs. 5000

Jan 20

6,000

Sold merchandise for cash Rs.

Jan 28

Paid cash to Iqbal Rs. 4,000

Jan 31

Paid salaries for the month Rs.

550​

Answer 1

Explanation:

Record the following transactions in Jo urnal. Post them into ledger and prepar e a Trial Balance.

Jan 1; Started business with cash Rs. 8 o,ooo

Jan 2; Bought furniture for cash Rs.

00

Jan 10 Bought merchandise for cash R

s. 3,000

Jan 1 5 Bought merchandise on credit f rom Iqbal Rs. 5000

Jan 20

6,000

Sold merchandise for cash Rs.

Jan 28

Paid cash to Iqbal Rs. 4,000

Jan 31

Paid salaries for the month Rs.

550