Journalize (give journal entries) the following transactions in Gaurav's books for April 2017: April 1: gaurav started...

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Accounting

Journalize (give journal entries) the following transactions inGaurav's books for April 2017:
April 1: gaurav started business with 1000000 of which 25%amount was borrowed from wife
April 4: purchased goods from Raj worth 40000 at 20% trade discountand 1/5th amount paid in cash
April 7: Cash purchases of 25000
April 10: sold goods to Vishakha 30000 at 30% trade discount andreceived 30% amount in cash
April 12: deposited cash into bank 20000
April 15: uninsured goods destroyed by fire 5500
April 19: received commission 3500
April 22: Paid Raj 25600 in full settlement of Account
April 25: cash stolen from cash box 1000
April 27: received from vishakha 14500 and discount allowed200
April 30: interest received 2400 directly added in our bankaccount.

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Journal Entries in the books of Gaurav for April 2017 Amounts in Date Account Titles and Explanations Debit Credit April 1 Cash 1000000 Loan from Wife 250000 Common Stock 750000 To record business started by Gaurav See Answer

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Journalize (give journal entries) the following transactions inGaurav's books for April 2017:April 1: gaurav started business with 1000000 of which 25%amount was borrowed from wifeApril 4: purchased goods from Raj worth 40000 at 20% trade discountand 1/5th amount paid in cashApril 7: Cash purchases of 25000April 10: sold goods to Vishakha 30000 at 30% trade discount andreceived 30% amount in cashApril 12: deposited cash into bank 20000April 15: uninsured goods destroyed by fire 5500April 19: received commission 3500April 22: Paid Raj 25600 in full settlement of AccountApril 25: cash stolen from cash box 1000April 27: received from vishakha 14500 and discount allowed200April 30: interest received 2400 directly added in our bankaccount.