Habib Ullah Sadiq is wholesale trader; following transactions are record i Commence business with cash Rs. 200,000 and Land Rs. 50,000. ii. Bought merchandising for cash Rs. 80,000. ii. Cash sales of worth Rs. 25,000. iv. Bought goods on credit from Salman of worth Rs. 50,000. v. Sales on account to Ali Raza Rs. 12,000. vi. Purchase furniture of the value of Rs. 5,000 by cash. vii. Received cash form Ali Raza of Rs. 10,000. viii. Return defective furniture of worth Rs. 1,500. here to search O DELL Home Courses MCQs Problems Mr. Salman started business with cash Rs. 80,000, Inventory Rs. 50, Machinery Rs 5,000. Purchased furniture for cash Rs. 4,000 and purchased goods from Nav Rs. 25,000 Sold goods to Rashid on credit basis for Rs. 8,000, costing Rs. 6,500. Open a bank account and deposited Rs. 40,000. Sold goods for cash Rs. 15,000, which is 20% above cost. th Received Rs. 7,800 from Rashid in full settlement for June 8 transactic th Paid Rs. 24,700 to Naveed store in full settlement for June 5 transaction bank. O