Question

Tournalise the following transactions:
i) / Salary paid to X
o/ Goods withdrawn by proprietor for personal use.
) Discount received from a creditor.
Rs. 20,000 worth of stock was purchased at 25% trade discount​

Answer 1

Answer:

i) X's a/c. Dr...

To salary a/c

ii) creditor a/c. Dr..

To Discount recv. a/c

iii) purchases a/c Dr... 19500

To cash a/c. 19500