Financial AccountingTU Board 2023
The following information are given: ➢ Started business with cash of Rs 100,000. ➢ Sold goods for Rs 200,000 on account. ➢ Purchased goods for Rs 150,000 and partial payment was done for cash of Rs…
5The following information are given:
➢ Started business with cash of Rs 100,000. ➢ Sold goods for Rs 200,000 on account. ➢ Purchased goods for Rs 150,000 and partial payment was done for cash of Rs 100,000. ➢ Received cash from customer Rs 195,000 for full settlement of his account. ➢ Paid to creditor after deducting 10% discount.
Required: Journal entries.
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