Question

with Goods and Services Tax (GST)
Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:
2018
on 1 Started business with cash
1,00,000
an 3 Bought goods on credit from Gupta & Co., Delhi
20,000
an 5 Cash sales
5,000
8 Cash purchases ............
8,000
Jan 10 Sold goods to Ahmed & Co., Lucknow...
10,000
jan. 11 Deposited cash in bank ....
50,000
Jan. 13 Purchased a computer for office .............
20,000
Jan 15 Took a loan from Mehboob
70,000
16 Goods returned by Ahmed & Co.......
2,000
17 Purchased furniture from Mehfil Mart, Kolkata ....
10,000
Jan. 18 Paid interest to Mehboob
2,000
19 Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was
accepted and rebate was allowed."
1,000
Jan. 22 Paid rent by cheque ....
2,000
Jan. 24 Withdrew from bank'...
20.000
Sales of goods at counter after allowing trade discount of 10%.............
10,000
Goods purchased from Gupta & Co., Delhi were destroyed by accident........
10,000
27 Advertisement expenses paid through bank .......
5,000
28 Ahmed & Co. settled their account by cheque".....
7,000
Jan. 29 Paid to Gupta & Co. by cheque
18,000
Discount allowed by them' .......
2,000
Jan. 31 Sold old newspapers..............
500

Answer 1

Explanation:

hope it helps this is the journal