Jeyaseeli is a sole proprietor having a provisions store. Following are the transactions during the month of January, 2020. Journalise them. Jan.(Dollars)1 Commenced business with cash - 80,0002 Deposited cash with bank - 40,0003 Purchased goods by paying cash - 5,0004 Purchased goods from Lipton & Co. on credit - 10,0005 Sold goods to Joy and received cash - 11,0006 Paid salaries by cash-5,0007 Paid Lipton & Co. by cheque for the purchases made on 4th Jan.8 Bought furniture by cash -4,0009 Paid electricity charges by cash -1,00010 Bank paid insurance premium on furniture as per standing instructions - 300

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Description: Jeyaseeli is a sole proprietor having a provisions store. Following are the transactions during the month of January, 2020. Journalise them. Jan.(Dollars)1 Commenced business with cash - 80,0002 Deposited cash with bank - 40,0003 Purchased goods by p

Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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Jeyaseeli is a sole proprietor having a provisions store. Following are the transactions during the month of January, 2020. Journalise them.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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