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Preapare the journal entries for the following events for the period (1.04.2019-31.03.2020). (20) Discounted a bill of 4600 with a bank at 5% interest on
- Preapare the journal entries for the following events for the period (1.04.2019-31.03.2020). (20)
- Discounted a bill of 4600 with a bank at 5% interest on the face value of the bill.
- Purchases a furniture of 36000 after getting a trade discount @ 10%, transportation cost was 1500
- Theft of an equipment. The cost of the equipment is 22500 and accumulated depreciation is 17500. The estimated scarp value of the equipment is 2500.
- Theft of goods which cost is 5200, but the NRV (Net realizable value) is 5000.
- Recovered 5200 from Mr. Shekhar. The firm had charged a bad debt of 16800 against Mr. Shekhar in Jan. 2019.
- Paid insurance of 24000 in the month of July. The insurance is for one year @ 2000 per month.
- Firms pass book got credited due to deposit of 5000
- Debentures worth 62000 got converted into common stocks.
- The owner brought a furniture of 8900 from his home to the office for which he has not taken money.
- Goods worth 12300 transferred from the store to the office to be used as furniture. question: Prepare the journal entry?
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