Question

Record the following transactions in Journal :
(i) With drawn goods costing Rs. 5,000 for a personal use.
Paid Landlord Rs. 1500 for rent.
Interest due but not received Rs. 4000
(iv)
Salary due to staff Rs. 25000​

Answer 1

Answer:

i) Drawings AC. Dr. 5000

to purchases Ac. 5000

(Being good withdrawn for personal use)

ii). Rent AC. Dr. 1500

to Cash AC. 1500

(Being Rent paid to landlord)

III). Accrued interest AC Dr. 4000

To interest AC. 4000

(Being interest accrued)

iv) Salaries AC. Dr. 25000

to outstanding Salary AC. 25000

(Being salaries due to staff)