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Pass the necessary Journal entries for …

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Pass the necessary Journal entries for the following transactions: 1.) Deposited in bank for opening a Current Account ₹10,000. 2.) Withdrawn from bank ₹5,000. 3.) Received a cheque from Ramesh to whom goods were sold for ₹12,000 last year. Allowed him 1% discount on payment. 4.) Ramesh's cheque deposited in bank. 5.) Ramesh's cheque dishonoured (bank charges ₹20). 6.) Ramesh settled his account by issuing cheque including ₹60 for interest ₹12,080. 7.) Cash directly deposited by Raja (Customer) in bank account ₹8,000. 8.) Bank draft got issued in favour of M/s Lal & Sons ₹5,000. Bank charges ₹700. 9.) A bill of exchange of ₹4,000 (due after one month) discounted from bank for ₹3,800. 10.) Bank charges debited by bank ₹400. 11.) Goods sold for cash ₹7,000 and half of the sale proceeds deposited in bank.​
  • 1 answers

Tanveer Zaidi 3 years, 1 month ago

Bank A/c dr. 10,000 To cash A/c. 10,000 Cash A/c dr. 5,000 To Bank A/c. 5,000 Cheque in hand A/c dr. 11,880 Dis. Allowed A/c. dr. 120 To Ramesh's A/c. 12,000 Bank A/c dr. 11880 To cheque in hand A/c. 11,880 Bank charges a/c dr. 20 To Bank A/c. 20 Ramesh's a/c. dr. 12020 To cheque in hand a/c. 11880 To dis. Allowed a/c. 120 To Bank charges a/c. 20 Bank a/c dr. 12080 To Ramesh's A/c. 12020 To INterest's a/c. 60 Bank a/c. Dr. 8,000 To Raja's a/c. 8,000 M/s Lal and sons a/c. dr. 5,000 Bank charges a/c. Dr. 700 To Bank a/c. 5,700 Bank a/c dr. 3,800 Dis. Charges a/c dr. 200 To Bills receiveable a/c. 4,000 Bank charges a/c. Dr. 400 To Bank a/c. 400 Bank a/c dr. 3,500 Cash a/c. Dr. 3,500 To Sales a/c. 7,000
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