Enter the following transactions in journal and post them into the ledger and then post them into Trail Balance.   Jan. i.  Mr. Anwar started business with cash Rs 40,000 and furniture Rs. 10,000. Purchased goods on credit (on account) worth Rs. 15,000 from Ahsan.         iii. Sold goods for cash Rs. 8,000. Sold goods on credit to Shakeel Rs. 5,000. Cash received from Shakeel Rs. 4,9000 in full settlement of his account.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 19EA: A business has the following transactions: The business is started by receiving cash from an...
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Enter the following transactions in journal and post them into the ledger and then post them into Trail Balance.

 

Jan. i.  Mr. Anwar started business with cash Rs 40,000 and furniture Rs. 10,000.

  1. Purchased goods on credit (on account) worth Rs. 15,000 from Ahsan.

        iii. Sold goods for cash Rs. 8,000.

  1. Sold goods on credit to Shakeel Rs. 5,000.
  2. Cash received from Shakeel Rs. 4,9000 in full settlement of his account.
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