The financial transaction of a trader are provided below: a. Started business with cash Rs. 300,000, which was collected by issuing the shares of Rs.…

The financial transaction of a trader are provided below:

a. Started business with cash Rs. 300,000, which was collected by issuing the shares of Rs. 100 each.

b. Rs. 200,000 was deposited into bank.

c. An equipment costing Rs. 100,000 was purchased and payment made by a cheque.

d. An equipment costing Rs. 60,000 was purchased on credit.

e. Sold goods on credit for Rs. 170,000.

f. Received a cheque from debtor, Rs. 135,000 after deduction of 10% discount.

g. Paid Rs. 47,500 to creditor after deducting 5% discount.

h. Rs. 15,000 was paid for electricity bill.

i. Paid wages Rs. 20,000 and office salary Rs. 25,000 by issuing cheques.

j. Paid Rs. 20,000 as rent by issuing a cheque for the period.

Required:

• i. Journal entries 

• ii. T accounts (ledger) for sales, purchase, account receivable and account payable 

• iii. Triple column cash book 

• iv. Trial Balance