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Pass journal for the following transaction 1 purchase furniture for rupees 25000 and paid 200 for its carriage 2 goods worth 1500 and cash 500 were as charity 3 where is due to labour 5000 4 received cash 2,000 from Tushar for bad Dept written off last year 4?
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Pass journal for the following transaction 1 purchase furniture for ru...
Purchase of Furniture

Journal Entry:


  • Furniture A/C - Debit - 25000

  • Carriage A/C - Debit - 200

  • Cash A/C - Credit - 25200


Explanation:

The purchase of furniture is recorded by debiting the Furniture account with the cost of the furniture, which is Rs. 25000. Additionally, the cost of carriage is incurred, amounting to Rs. 200, which is also debited to the Carriage account. The payment for these expenses is made in cash, so the Cash account is credited with a total of Rs. 25200.


Charitable Donation

Journal Entry:


  • Charity A/C - Debit - 1500

  • Cash A/C - Debit - 500

  • Goods A/C - Credit - 2000


Explanation:

The charitable donation made by the business includes goods worth Rs. 1500 and cash of Rs. 500. To record this transaction, the Charity account is debited with the value of goods donated (Rs. 1500), and the Cash account is debited with the cash donation (Rs. 500). On the other hand, the Goods account is credited with the total value of the donation, which is Rs. 2000.


Payment to Labor

Journal Entry:


  • Labor A/C - Debit - 5000

  • Cash A/C - Credit - 5000


Explanation:

The payment to laborers is recorded by debiting the Labor account with the amount due, which is Rs. 5000. Simultaneously, the Cash account is credited with the same amount of Rs. 5000, reflecting the cash outflow for labor-related expenses.


Recovery of Bad Debt

Journal Entry:


  • Cash A/C - Debit - 2000

  • Bad Debts Recovered A/C - Credit - 2000


Explanation:

The recovery of a bad debt is recorded by debiting the Cash account with the amount received, which is Rs. 2000. This amount is credited to the Bad Debts Recovered account, indicating the recovery of a previously written-off bad debt.
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Pass journal for the following transaction 1 purchase furniture for rupees 25000 and paid 200 for its carriage 2 goods worth 1500 and cash 500 were as charity 3 where is due to labour 5000 4 received cash 2,000 from Tushar for bad Dept written off last year 4?
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