Question

Q. Prepare Journal with the help of the following transactions Jan 1st. Business started with cash- 250,000 dhs Jan 5th Machinery purchased- 55,000 dhs Jan 8th Salary Paid- 14,000 dhs Jan 15th Commission received by cash - 12,000 dhs Jan 21st Insurance paid by Cash - 14,500 dhs Jan 23rd Interest received by cash - 18,000 dhs Jan 26th Rent paid by cash - 10,000 dhs

Answer 1

Date	Description	Post Ref	Debit	Credit
Jan 1st	Cash a/c Dr		250000
	To, capital a/c			2,50,000
Jan 5th	Machine a/c dr		55,000
	To, cash a/c			55,000
Jan 8th	Salary expense a/c dr		14,000
	To, cash a/c			14,000
Jan 15th	Cash a/c Dr		12000
	To, commission revenue a/c			12,000
jan 21st	Insurance expense a/c dr		14,500
	To, cash a/c			14,500
Jan 23rd	Cash a/c Dr		18,000
	To, Interest received a/c			18,000
jan 26th	Rent expense a/c dr		10,000
	To, cash a/c			10,000