Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab): Started business with cash 50,000
Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab):
| 2022 Jan. 1 | Started business with cash | 50,000 |
| Jan. 2 | Opened a Current Account by personal cheque | 3,50,000 |
| Jan. 10 | Purchased machinery against cheque | 1,00,000 |
| Jan. 15 | Paid wages for installation of machinery | 2,000 |
| Jan. 20 | Purchased timber from Singh & Co. Ludhiana (Punjab) at the list price of ₹ 20,000 less 10% trade discount | |
| Jan. 25 | Out of the above, timber used for furnishing the office | 5,000 |
| Jan. 31 | Sold timber to Rakesh on the list price of ₹ 10,000 and allowed him 10% trade discount | |
| Feb. 10 | Issued a cheque to Singh & Co. in settlement | 17,500 |
| Feb. 15 | Received from Rakesh in full and final settlement | 8,750 |
| Feb. 20 | Paid fee to lawyer | 15,000 |
| Feb. 25 | Issued a cheque for rent of February | 5,000 |
Anurag Pathak Changed status to publish September 19, 2023
