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Journal                                                                         8.5

                     Solution:                      In the Books of Gupta Bros.
                                                           JOURNAL
                     Date     Particulars                                          L.F.   Dr. (`)   Cr. (`)

                     2024
                     March  1  Cash A/c                                      ...Dr.       30,000
                             Stock A/c                                       ...Dr.       15,000
                             Furniture A/c                                   ...Dr.       20,000
                                To  Capital A/c                                                    65,000
                             (Business started with cash, goods and furniture)
                     March  2  Bank A/c                                      ...Dr.       20,000
                                To  Cash A/c                                                       20,000
                             (Cash paid into bank)
                     March  3  Purchases A/c                                 ...Dr.       7,000
                                To  Mohan Bros.                                                     7,000
                             (Goods purchased from Mohan Bros.)
                     March  4  Goyal Bros.                                   ...Dr.       6,000
                                To  Sales A/c                                                       6,000
                             (Goods sold to Goyal Bros.)
                     March  5  Vehicle A/c                                   ...Dr.       10,000
                                To  Cash A/c                                                       10,000
                             (Vehicle purchased for delivering goods to customers)
                     March  7  Cash A/c                                      ...Dr.       3,000
                             Commission Paid A/c                             ...Dr.         150
                                To  Sales A/c                                                       3,150
                             (Cash received from salesman after deducting
                             commission)
                     March  9  Drawings A/c                                  ...Dr.         800
                                To  Bank A/c                                                         800
                             (Cheque drawn out of bank for personal use)
                     March  10  Bank A/c                                     ...Dr.       6,000
                                To  Goyal Bros.                                                     6,000
                             (Cheque received from Goyal Bros., deposited in bank)
                     March  11  Mohan Bros.                                  ...Dr.       7,000
                                To  Bank A/c                                                        6,700
                                To  Discount Received A/c                                            300
                             (Payment made by cheque and discount received)

                     March  13  Repairs A/c                                  ...Dr.         200
                                To  Cash A/c                                                         200
                             (Amount paid for repairs of furniture)
                                               Total c/f                                1,25,150  1,25,150
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