Q. NO. 19 1. Khalid invested in business Rs.40000, Furniture Rs.24,000, equipment Rs.15000 2. Purchase merchandise for cash Rs. 6000 3. Purchase office stationary for Rs.2000 4. Purchase goods on credit from Zahid Rs.10000 5. Sold merchandise on credit to Amir Rs.10000 6. Paid rent expense Rs.600 7. Sold merchandise for cash Rs. 3500 8. Billed to Mr. Bilal for service rendered Rs. 10000 9. Purchase supplies on credit from Aleem Rs. 800 10. Paid traveling expense Rs. 650 11. Sold merchandise to Mr. Kareem Rs. 4000 on credit. 12. Received cash from Mr. Kareem Rs.1500 13. Khalid withdrew cash for personal use Rs. 3000 14. Paid insurance for the month Rs. 500 15. Received cash from Mr. Bilal Rs.8000

INSTRUCTION a. Prepare journal entries b. Post to ledger accounts c. Prepare a trial balance at July 31,2015