1.

Record the following transactions in the journal : (i) Bought goods from Gopi & Co. of list price ₹ 20,000 at 10% TradeDiscount plus CGST and SGST @ 6% each. (ii) Bought goods from Mona & Co. of list price ₹ 30,000 at 20% TradeDiscount and 25% Cash Discount. IGST paid on it was @ 12%. Paid by cheque. (iii) Sold goods costing ₹ 40,000 at a profit of 25% on cost less 20% TradeDiscount and 2% Cash Discount to Maya & Sons, Paid CGST and [email protected] 6% each. It paid the amount by cheque to avail CashDiscount. (iv) Outstanding rent of previous year ₹ 10,000 is paid by cheque. (v) Machine purchased of 80,000 from mahindra Ltd and paid ₹ 20,000 for installation expenses. (vi) Goods purchased from Gopi & Co. of list price ₹ 33,000 were given ascharity to a N.G.O. (vii) Electricity charges paid by chequefrom saving account ₹ 25,000 (viii) Legal fee paid ₹ 38,000, stationery expenses paid ₹ 2,000.

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