Pass the journal entries for the following: 1. Goods worth Rs. 15,000 were insured for Rs. 10,000.
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2. Purchased goods from Dinesh at Rs. 2,000 and sold to Suresh for Rs. 2,600. He returned goods of Rs. 780, which were returned to Dinesh.
3. Received an order of Rs. 20,000 from Mahesh. He paid Rs. 15,000 Cash in advance.
4. Withdrew from bank Rs. 5,000 out of which Rs. 2,000 were for payment of income tax.
5. Mahesh's order was delivered and he paid the remaining amount in cash.
6. Interest on capital is to be charged at Rs. 1000.
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
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