Dear Student, Journal entries are as follows: Date Particulars LF Amount (in Rs) Amount (in Rs) 2017 Jan1 Cash A/c Dr 2,50,000 To Capital A/c 2,50,000 (Commenced business) Jan 2 Bank A/c Dr 2,35,000 To Cash A/c 2,35,000 (Paid in Bank) Jan 3 Purchases A/c Dr 5,400 To Ramesh & Co 5,400 (Bought goods) Jan 4 Sales A/c Dr 48,000 To Rajesh A/c 48,000 (Sold goods ) Jan 7 Purchases A/c Dr 64,500 To Rahul A/c 64,500 (Bought goods) Jan 8 Wages A/c Dr 800 To Cash A/c 800 (Paid wages) Jan 8 Sales A/c Dr 53,500 To Mahesh Chand A/c 53,500 (Sold goods) Jan 10 Bank A/c Dr 46,800 Discount allowed A/c 1,200 To Rajesh A/c 48,000 (Received from Rajesh) Jan 11 Ramesh & Co Dr 5,400 To Bank A/c 5,130 To Discount received 270 (Paid to Ramesh & Co) Jan 12 Rent A/c Dr 4,000 To Bank A/c 4,000 (Paid rent upto March) Jan 13 Purchases A/c Dr 74,000 To C Khare 74,000 (Goods purchased) Jan 15 Wages A/c Dr 800 To Cash A/c 800 (Paid wages) Jan 27 Sales return A/c Dr 2,000 To Mahesh A/c 2,000 (Goods returned) Jan 31 Bills receivables A/c Dr 20,000 To Hari 20,000 (Bill received from Hari) Jan 31 Cash A/c Dr 20,000 To Bill receivable A/c 20,000 (Cash received) Bank A/c Dr 20,000 To Cash A/c 20,000 (Deposited into Bank) Note: The left out transactions are of the same nature as provided above Still in case of any query do reach to us Regards,

Answer this

Dear Student,

Journal entries are as follows:

Date	Particulars	LF	Amount (in Rs)	Amount (in Rs)
2017 Jan1	Cash A/c	Dr	2,50,000
	To Capital A/c			2,50,000
	(Commenced business)

Jan 2	Bank A/c	Dr	2,35,000
	To Cash A/c			2,35,000
	(Paid in Bank)

Jan 3	Purchases A/c	Dr	5,400
	To Ramesh & Co.			5,400
	(Bought goods)

Jan 4	Sales A/c	Dr	48,000
	To Rajesh A/c			48,000
	(Sold goods )

Jan 7	Purchases A/c	Dr	64,500
	To Rahul A/c			64,500
	(Bought goods)

Jan 8	Wages A/c	Dr	800
	To Cash A/c			800
	(Paid wages)

Jan 8	Sales A/c	Dr	53,500
	To Mahesh Chand A/c			53,500
	(Sold goods)

Jan 10	Bank A/c	Dr	46,800
	Discount allowed A/c		1,200
	To Rajesh A/c			48,000
	(Received from Rajesh)

Jan 11	Ramesh & Co	Dr	5,400
	To Bank A/c			5,130
	To Discount received			270
	(Paid to Ramesh & Co)

Jan 12	Rent A/c	Dr	4,000
	To Bank A/c			4,000
	(Paid rent upto March)

Jan 13	Purchases A/c	Dr	74,000
	To C Khare			74,000
	(Goods purchased)

Jan 15	Wages A/c	Dr	800
	To Cash A/c			800
	(Paid wages)

Jan 27	Sales return A/c	Dr	2,000
	To Mahesh A/c			2,000
	(Goods returned)

Jan 31	Bills receivables A/c	Dr	20,000
	To Hari			20,000
	(Bill received from Hari)

Jan 31	Cash A/c	Dr	20,000
	To Bill receivable A/c			20,000
	(Cash received)

	Bank A/c	Dr	20,000
	To Cash A/c			20,000
	(Deposited into Bank)

Note: The left out transactions are of the same nature as provided above. Still in case of any query do reach to us

Regards,

View Full Answer