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Journalise the following entries:(i) Goods costing ₹ 500 given as charity.(ii) Sold goods to Mayank of ₹ 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale.(iii) Received ₹ 975 from Harikrishna in full settlement of his account of ₹ 1,000.(iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us ₹ 1,000.(v) Charge interest on Drawings ₹ 1,500.(vi) Sold goods costing ₹ 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount and paid cartage ₹ 100, which is not to be charged from customer. |
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Answer» Journalise the following entries: (i) Goods costing ₹ 500 given as charity. (ii) Sold goods to Mayank of ₹ 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale. (iii) Received ₹ 975 from Harikrishna in full settlement of his account of ₹ 1,000. (iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us ₹ 1,000. (v) Charge interest on Drawings ₹ 1,500. (vi) Sold goods costing ₹ 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount and paid cartage ₹ 100, which is not to be charged from customer. |
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