20. Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):
| 2024 | ₹ | |
|---|---|---|
| Jan.01 | Rakesh commenced business with cash | 50,000 |
| Jan.02 | Purchased goods for cash | 10,000 |
| Jan.05 | Purchased goods from Mohan, Delhi. | 60,000 |
| Jan.07 | Opened bank account with Bank of India. | 10,000 |
| Jan.10 | Purchased furniture for office. | 2,000 |
| Jan.15 | Sold goods for cash. | 8,000 |
| Jan.20 | Sold goods to Ram of the list price of ₹1,25,000 less 20% Trade discount and 2% cash discount and paid 40% by cheque | |
| Jan.25 | Cash sales. | 3,500 |
| Jan.27 | Paid to Mohan on account | 3,000 |
| Jan.28 | Ram returns goods of sale value. | 5,000 |
| Jan.31 | Paid Salaries.. | 9,000 |
| Jan.31 | Paid to the Petty Cashier. | 3,000 |
| Jan.31 | Rejected and returned 5% of goods supplied by Mohan |
T.S.Grewal/2024 Edition/Practical Problems/Q-20
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.