The following are the information given to you. a. Started a business with a bank balance...
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The following are the information given to you. a. Started a business with a bank balance of Rs 100,000 b. Purchased goods costing Rs 20,000 and made a partial payment of Rs 8,000 by cheque. c. Paid to creditor Rs 11,000 after receiving Rs 1,000 discount. Required: Journal and ledgers of bank account and creditors account. The following are the information given to you. a. Started a business with a bank balance of Rs 100,000 b. Purchased goods costing Rs 20,000 and made a partial payment of Rs 8,000 by cheque. c. Paid to creditor Rs 11,000 after receiving Rs 1,000 discount. Required: Journal and ledgers of bank account and creditors account.
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Lets record the transactions in the journal first and then well create the ledgers for the Bank Acco... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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