Journal entries

Journal entries

Open Ended

Purchased machinery for ₹ 70000 cash and paid 9% CGST and SGST each.

Open Ended

Started business with ₹ 50000 cash and ₹ 80000 cheque.

Open Ended

Goods destroyed by fire worth ₹ 50000. Insurance claim receive ₹ 45000.

Open Ended

Proprietors rent paid ₹ 50000 by NEFT.

Open Ended

Returned goods worth ₹ 6000 to Rajesh.

Open Ended

Amount due from Sapna was ₹ 70000. Received ₹ 68000 from her in full and final settlement.

Open Ended

Amount due from Ram was ₹ 60000. But Ram became insolvent and only 75 paise in a rupee could be recovered from him.

Open Ended

Goods lost by theft worth ₹ 80000. Insurance claim received ₹ 65000.