10,000 5,0007. Pass the necessary Journal entries for the following transactions:2020April 1 Deposited in bank for opening a Current Account.....April 2 Withdrawn from bankApril 5 Received a cheque from Ramesh to whom goods were sold for 12,000 last yearAllowed him 1% discount on paymentApril 7 Ramesh's cheque deposited in bankApril 9 Ramesh's cheque dishonoured (bank charges 20)April 20 Ramesh settled his account by issuing cheque including 60 for interestApril 21 Cash directly deposited by Raja (Customer) in bank accountApril 23 Bank draft got issued in favour of M/s Lal & Sons 5,000. Bank charges * 700April 28 A bill of exchange of 4,000 (due after one month) discounted from bank for 3,800April 30 Bank charges debited by bank.April 30 Goods sold for cash 7,000 and half of the sale proceeds deposited in bank12.0808,000400

10,000 5,0007. Pass the necessary Journal entries for the following

1.	10,000 5,0007. Pass the necessary Journal entries for the following transactions:2020April 1 Deposited in bank for opening a Current Account.....April 2 Withdrawn from bankApril 5 Received a cheque from Ramesh to whom goods were sold for 12,000 last yearAllowed him 1% discount on paymentApril 7 Ramesh's cheque deposited in bankApril 9 Ramesh's cheque dishonoured (bank charges 20)April 20 Ramesh settled his account by issuing cheque including 60 for interestApril 21 Cash directly deposited by Raja (Customer) in bank accountApril 23 Bank draft got issued in favour of M/s Lal & Sons 5,000. Bank charges * 700April 28 A bill of exchange of 4,000 (due after one month) discounted from bank for 3,800April 30 Bank charges debited by bank.April 30 Goods sold for cash 7,000 and half of the sale proceeds deposited in bank12.0808,000400
Answer» JOURNAL ENTRY1 April 2020,Deposited in bank for opening a Current Account2 April 2020,Withdrawn from bank5 April 2020Received a cheque from Ramesh to whom goods were sold for 12,000 last yearReceived a cheque from Ramesh to whom goods were sold for 12,000 last yearAllowed him 1% discount on payment7 April 2020,Ramesh's cheque deposited in BANK9 April 2020,Ramesh's cheque dishonoured (bank charges 20)20 April 2020,Ramesh settled his account by issuing cheque including 60 for interest21 April 2020,Cash directly deposited by Raja (Customer) in bank account23 April 2020,Bank draft got ISSUED in favour of M/s Lal & SONS 5,000. Bank charges * 70028 April 2020, A bill of exchange of 4,000 (due after one month) discounted from bank for 3,800.30 April 2020,Bank charges DEBITED by bank.Goods sold for cash 7,000 and HALF of the sale proceeds deposited in bank.The End.

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