Question

write the journal entries of
1.Business started with cash 75,000
2.Purchased goods for cash 10,000
3.sold goods to swati 5,000
4.purchased furniture 3,000
5.cash received from swati in full settlement 4,000
6.paid rent 1,000 dec. 30 paid salary 1,5000
​

Answer 1

Answer:

cash to capital (75000)

purchases to cash (10000)

Swati to sales (5000)

furniture to cash (3000)

cash to swati (4000)

rent to cash (1000)

salary to cash (1,5000)