Shahrukh Khanna promotes Shahrukh Khanna and Sons, his proprietary firm, to start business of trading in mobile phones on 1st April 2006. He hires a showroom at D-15, South Ext., New Delhi @ ` 12,000 P.M inclusive of electricity expenses. The following are the details of the transactions entered into by the firm during the month of April.

Required:
1. Analyse the above transactions with reference to rules of recording and dual aspect concept.
2. Record all the transactions in the journal of Shahrukh Khanna and Sons.

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Date Tr. No. Transactions Amount (Rupees) April 1 1 April 1 April 2 23 Shahrukh Khanna brings his capital in cash. Opened a current account with HDFC Bank. 6,50,000 6,25,000 April 3 April 4 45 Purchased a Santro car. Paid cheque for *70,000. Balance *2,80,000 term loan from HDFC Bank, against security of car, repayable over 3 years in equal monthly installments with interest @12% P.A. payable monthly on reducing balance method. First installment to fall due on May 1. Purchased furniture. Issued cheque. 3,50,000 1,10,000 4,35,000 Purchased mobile phones as under from Nokia Ltd.: 1. 25 pieces 'Elegant' model @ *6,000 each. 2. 40 pieces 'Executive' model @ *4,000 each. 3. 50 pieces 'Economy' model @ *2, 500 each. Issued cheque. Showroom inaugurated by a friend film star Mallika Kapoor without charges. However other expenses incurred on inauguration in cash. April 5 6 April 5 7 Sold mobile phones as under for cash: 1. 5 pieces 'Elegant' model @ *6,600 each. 2. 4 pieces 'Executive' model @ *4,500 each. 3. 8 pieces 'Economy' model @ *3,000 each. Cash collected on April 5 deposited in HDFC Bank C/A. April 6 April 13 9 Sold mobile phones as under to a corporate customer: 1. 15 pieces 'Elegant' model @ 6,500 each. 2. 25 pieces 'Executive' model @*4,400 each. 3. 30 pieces 'Economy' model @ *2, 900 each. Received cheque. Deposited in HDFC Bank C/A. 10,000 75,000 2,94,500