[ISC] Q 20 Journal Solutions TS Grewal Class 11 (2023-24)

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Are you looking for the solution of Question number 20 Journal TS Grewal class 11 ISC 2023-24?

Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab):

Jan. 1
Started business with cash50,000
Jan. 2Opened a Current Account by personal cheque3,50,000
Jan. 10Purchased machinery against cheque1,00,000
Jan. 15Paid wages for installation of machinery2,000
Jan. 20Purchased timber from Singh & Co. Ludhiana (Punjab) at the list price of ₹ 20,000 less 10% trade discount
Jan. 25Out of the above, timber used for furnishing the office5,000
Jan. 31Sold timber to Rakesh on the list price of ₹ 10,000 and allowed him 10% trade discount
Feb. 10Issued a cheque to Singh & Co. in settlement17,500
Feb. 15Received from Rakesh in full and final settlement8,750
Feb. 20Paid fee to lawyer15,000
Feb. 25Issued a cheque for rent of February5,000


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