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Shah Garden Center is retail garden supplier. Record the transactions needed to journalize, post to respective ledger account and prepare Trial Balance of the following
Shah Garden Center is retail garden supplier. Record the transactions needed to journalize, post to respective ledger account and prepare Trial Balance of the following for October, 2011 of the current year: Oct. 1 owner invested cash 750,000, machinery 550,000 and land and building 320,000 Oct. 2 purchased inventory on credit terms of for Rs. 120,000. Freight charges on the purchase were Rs. 190. Oct. 9 sold goods on credit for Rs. 104,000. Sale includes 12% profit Oct. 10 paid the amount owed on account for the Oct. 2 inventory purchase and cash discount received 2% Oct. 25 purchased goods for cash 140,000 and cash discount received 4% Oct. 28 Inventory lost by fire of cost Rs. 350. Oct. 28 salaries paid 130,000 Oct. 28 insurance paid 24,000 Oct. 28 sold goods for cash 120,000, actual price is 130,000 Oct. 28 interest paid 12,500 Activat GO Oct. 28 wages paid 15.600 Sdictions on
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