Ananth is a trader dealing in textiles. For the following transactions, pass journal entries for the month of January, 2018 I
Jan.
Rs
1 Commenced business with cash 70,000
2 Purchased goods from X and Co. on credit 30,000
3 Cash deposited into bank 40,000
4 Bought a building from L and Co on credit
5 Cash withdrawn from bank for office use
95,000
5,000
6 Cash withdrawn from bank for personal use of Ananthu 4.000
7 Towels given as charities 3,000
8 Shirts taken over by Ananth for personal use 12,000
9 Sarees distributed as free samples
3,000
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Journal entries solution