Q.1 Following are the transactions of M/s Galaxy Stationery Store for the month of July, pass the general entries and also prepare the general ledger. (5 marks) July.01, Brought cash Rs. 1,200,000 to start the business. .03, Purchased stationary and printing materials for office use Rs. 20,000. .05, Purchased pens on credit from Japan Trading Company amounting to Rs.11,680. .06, Returned defective pens to Japan Trading Company amounting to Rs. 280. .08, Sold on credit pilot pens to Eastern pen Store amounting to Rs. 12,800. .09, Returned by Eastern pen Stores defective pen amounting to Rs. 1,000. .10, Paid to Japan Trading Company Rs. 6,200. .15, Received from eastern pen Stores Rs. 7,500. .20, Open an Bank account with Rs. 50,000. .29, Paid to the proprietor of Khalid pen Stores Rs. 6,000 for personal use. .30, Paid salaries for the month Rs. 22,000 by cheque