Question.) Using the transactions given below, you are required to post the journal entries to respective ledger account.

In the books of XX Products

Journal Entries

Date	Particulars	Debit(Rs)	Credit(Rs)
March 1	Cash	12,000
	Capital		12,000
	[ Cash invested in the business as capital ]
March 2	Purchase	18,000
	Cash		18,000
	[Being goods purchased on cash]
March 3	Purchase	16,000
	Accounts payable		16,000
	[ Goods purchased on credit ]
March 4	Equipment	30,000
	Cash		10,000
	Note payable		20,000
	[Equipment purchased partially in exchange of cash and reminder financed by note payable ]
March 5	No entry
March 6	Drawing	1,200
	Purchase		1,200
	[ Goods taken over for personal use ]
March 7	Cash	600
	Purchase return		600
	[Cash received for purchase return ]
March 8	No entry
March 9	Accounts payable	1,000
	Purchase return		1,000
	[Purchase return made and obtained full credit ]
March 10	Note payable	2,000
	Cash		2,000
	[Cash paid for note payable ]
March 10	Equipment	10,000
	Capital		10,000
	[Equipment purchased by proprietary personal savings ]
March 11	Accounts payable	6,000
	Cash		6,000
	[ Cash paid to creditors ]
March 12	New equipment	3,000
	Cash	5,000
	Old equipment		8,000
	[Equipment exchanged and balancing amount received in cash ]

Date Transaction March 1 You invested Rs 12,000 cash in your sole proprietorship, which you call XX products March 2 XX acquired Rs18,000 inventory (Gloves) for cash March 3 XX acquired Rs16,000 inventory on account March 4 XX acquired equipment for Rs30000 in exchange for a Rs 10000 cash down payment and a Rs20000 promissory note March 5 A large retail store, which you had hoped would be a big customer, discontinued operation. March 6 You take XX's inventory worth Rs 1200 home for family. March 7 Inventory that costs Rs600 in transaction on March 2 were of the wrong style. XX retuned them and obtained a full cash refund. March 8 Inventory that costs Rs1600 in transaction on March 3 were of the wrong colour. XX retuned them and obtained inventory of the correct colour in exchange. March 9 Inventory that cost Rs 1000 in transaction on March 3 had an unacceptable quality. XX returned them and obtained full credit on account. March 10 XX paid Rs2000 on a promissory note. March 10 You use your personal cash savings of Rs 10000 to acquire some equipment for XX. You consider this to be an additional investment in your business. March 11 XX paid Rs6000 on account payable. March 12 XX exchange equipment that costs Rs 8000 in transaction on March 4 with another wholesaler. However, the equipment received, which is almost new, is smaller and is worth only Rs3000. Therefore, the wholesaler also pays Rs5000 in cash