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1. Journalize the following transactions: i. Closing stock is Rs. 50,000 ii. Depreciation is to be charged at 10% on the furniture, which is valued
1. Journalize the following transactions:
i. Closing stock is Rs. 50,000
ii. Depreciation is to be charged at 10% on the furniture, which is valued at Rs. 80,000
iii. Interest on capital is to be provided at 15% on the opening balance of Rs. 1,00,000
iv. There is a bad debt amounting to Rs. 2000
v. Interest received in advance Rs. 1500
vi. The proprietor withdrew goods of Rs. 10,000 for personal use
vii. Interest on drawings is to be charged Rs. 1000
viii. Prepaid telephone charges Rs. 8000
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