From the following transactions pass journal entries in the books of Badshah. Post them in ledger. Find out the balance of each account and state whether it is a debit balance or credit balance and also mention the amount.
2016
November
1 Brought ₹ 75,000 cash and stock of goods of ₹ 15,000 in the business.
2 Deposited ₹ 40,000 in bank.
3 Goods of ₹ 15,000 are purchased from Aunti at 10 % trade discount and paid ₹ 3,000 cash.
5 Goods of ₹ 20,000 are sold at 30 % profit to Govind, at 10 % trade discount. Govind has given a cheque of ₹ 5,000, which is deposited in the bank.
7 Paid salary ₹ 4,500 and cartage ₹ 450.
8 Fire insurance premium of ₹ 2,000 is paid by cheque.
10 Paid ₹ 3,500 by cheque to Shah Agency for an advertisement in a newspaper.
12 Goods of ₹ 24,000 purchased from Chakan at 10 % trade discount and paid ₹ 9,600 cash to Chakan.
14 Paid ₹ 10,000 by cheque to Aunti and the balance amount in cash.
15 A cheque of ₹ 18,400 send by Govind. Which is deposited in the bank,
16 Paid ₹ 4,000 from the business for the school fees of daughter, Urja.
