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Compound Journal Entries4A, Journalise the following transactions :Date1 March, 20195 March, 201910 March, 201920 March, 201922 March, 2019ParticularsStarted business with cash 2,50,000 and goods worth 40,000.Goods purchased from Binod Agarwal * 50,000.Goods sold to Priyanka 30,000.Paid to Binod Agarwal 48,500 in full and final settlement to his account.Received from Priyanka 29,750 and discount allowed 250. |
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Answer» 1) CASH dr. 2,50,000 inventory dr. 40,000 to capital 2,90,000 2) purchase dr. 50000 to BINOD 50000 3) priyanka dr. 30000 to SALES 30000 4) Binod dr. 50000 to cash 48500 to discount received 1500 5) cash dr. 29750 discount allowed dr. 250 to priyanka 30000 |
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