(Closing Entries). Given the necessary entries in the Journal Proper of Ram on 31st March, 2023 to close his books:

(Closing Entries). Given the necessary entries in the Journal Proper of Ram on 31st March, 2023 to close his books:

Freehold Premises ₹ 30,000; Plant and Machinery ₹ 20,000; Sundry Debtors – ₹ 25,000; Purchases ₹ 37,500; Sales ₹ 95,000; Discount (Dr.) ₹ 150; Discount (Cr.) ₹ 175; Sundry Creditors ₹ 12,500; Carriage Inwards ₹ 375; Carriage Outwards ₹ 600; Furnitrue and Fixtures ₹ 2,500; Wages ₹ 5,000; Bad Debts ₹ 750; Salaries ₹ 3,600; Commission (Cr.) ₹ 2,125; Capital Account ₹ 25,000; Bills Payable ₹ 7,500; Bills Receivable ₹ 9,000. Trade Expenses ₹ 2,550; Opening Stock ₹ 22,075; Closing Stock ₹ 10,000; Ram’s Loan Account ₹ 20,000; Cash in Hand ₹ 75; Cash at Bank ₹ 3,125.