Question

Write Journal entries of the following transactions in the books of Shri Mastiwala for the
month of April 2020.
(12)
1. He started business by bringing cash 1,20,000.
2. Bought goods from Shri Pandu 50,000,
3. Purchase Furniture and fittings of * 2,000.
4. Sold goods to Mr. Kitewala of ? 16,000.
5. Paid salary to a employee Mangubhai 15,000.
6. Sold goods @ 10% cash discount to Shri Aalloo Bhai 20,000. He paid 50 % amount
by cheque
7. Received 15,000 from Mr. Kitewala and allowed him discount for remaining amount.
8. Paid Wages? 800, electricity bill 9,000, Shop Rent 10,000 and House rent 2.000
9. For additional requirement of funds in the business unit, taken loan of 20,000 from a
friend Mr.jhaduwala @ 12% per annum.
1 Paid 50% amount by cheque and remaining amount by cash to Shri Pandu.​

Answer 1

Answer:

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