Q-1: Following are the business transaction for the month of January 2001 of Mr. David, who started business with the name: David Traders Jan1: Started business with Rs.200,000 in the bank and Rs,40,000 cash 1: Bought shop fitting and paid by cheque 40,000 1: Bought a van and paid by cheque 60,000 2: Paid rent by cheque 5,000 Bought goods for sale on credit from John and co 50,000 5: cash sales 5,000 8: Paid wages to assistant in cash 1,000 10: paid insurance by cheque 500 12: cash sales 8,000 15: paid wages of assistant in cash 1,000 15: goods return to John and co 6,000 17: Paid to John and co.by cheque 30,000 19: Bought goods for resales on credit Elizabeth and co 25,000 19: cash sales 7,000 22: paid wages of assistant in cash 1,000 24: Bought stationary, paid in cash 500 25: cash sales 15,000 27: Paid Elizabeth and co by cheque 14,000 29: Paid wages of Assistant in cash 1,000 31: cash paid into bank 20,000

Requirement: Pass necessary General Entries and post them in the appropriate Ledger Account of David Traders