Q21: Following transactions were completed by Mr.khalid during the month of July,02. July 1: Khalid invested in business cash Rs.55000, office supplies Rs.1500, office equipment Rs.45000 July3: Obtained loan from bank Rs.100,000 July 5: Purchase office equipment from Karim&Co. for Rs.25000 and paid Rs.12000 July 10: Paid rent for office premises in advance for three moths Rs.3000 per month. July 12: Purchase goods on credit from ABC & Co. Rs 25000 July 15: Sold merchandise to Kashif Rs.5000 July 16 Paid salaries Rs.4500 July 20: Paid to Karim Rs.2000 July 23: Received form Kashif Rs.1500 Principles of Accounting 26 July 25: Paid to ABC & Co. Rs.3000 July 27: Paid installment of bank loan Rs 5000 July 30: Paid advertising expense Rs 3000

INSTRUCTION Prepare journal entries T -account Trial Balance.