Q1. Joumalize the following transactions in the books of Ghulam Abbas, post them into ledger and prepare trial balance for June 2016 (44 M] June 1: Ghulam Abbas started business with Rs. One Million of which 25% amount was borrowed from wife. June 4: Purchased goods from Arshad worth Rs. 40.000 at 20% Trade Discount and 1/5th amount paid in cash. June 7: Cash purchases Rs. 25,000. June 10: Sold goods to Ikram Rs. 30,000 at 30% Trade Discount and received 30% amount in cash. June 12: Deposited cash into bank Rs. 20,000. June 15: Uninsured goods destroyed by fire Rs. 5,500. June 19: Received commission Rs. 3,500. June 22: Paid to Arshad in full settlement of A/c. June 25: Cash stolen from cash box Rs. 1,000. June 27: Received from Ikram Rs. 14,500 and with discount Rs. 200. June 30: Interest received Rs. 2,400 directly added in our bank account