Reference no: EM132539876
Question 1: Give journal entries of M/s Sonu traders from the following transactions :
August 2014 Rs.
1. Commenced business with cash 1,10,000
2. Opened bank account with ICICI 50,000
3. Purchased furniture 20,000
7. Bought goods for cash from M/s Rajat Traders 30,000
8. Purchased good from M/s Hemant Traders 42,000
10. Sold goods for cash 30,000
14. Sold goods on credit to M/s. Arora Traders 12,000
16. Rent paid 4,000
18. Paid trade expenses 1,000