Pass journal entries of M/s Rao & Co for the period Jan 2004 and open necessary ledger accounts.

January 1 January 2 January 3 January 4 January 5 January 7 January 8 January 9 January 10 January 11 January 13 January 15 January 17 January 20 January 22 January 25 January 26 January 27 January 29 January 31

Rao commenced business with 5,000 Bought goods for cash 2,500 Bought office furniture for cash 500 Paid for postage 10 Purchased goods from Rajkumar 2,000 Sold goods for cash 150 Bought goods from Rahim 400 Sold goods to Suresh 400 Sold goods to Nayak 300 Purchased goods for cash 350 Received cash from Nayak 25 Paid cash to Rahim 400 Returned goods to Rajkumar 200 Suresh returned goods 50 Paid salaries 150 Sold goods for cash 500 Rao withdrew for personal use 800 Paid for stationery 100 Paid rent 225 Received commission 50