Kusumita started a boutique shop on 1st July, 2020 with cash Rs. 600,000 as "Fashion Care Boutique Shop" at New Road Kathmandu. Kusumita provided you the following transactions:
July 3 She purchased a computer of RS. 60,000 for office use from ABC Company paying cash Rs. 10,000 & the balance through bank loan.
July 5 Office furniture purchased from Ratna Steel Furniture Pvt. Ltd Rs. 50,000.
July 7 Bought goods for Rs. 60,000 and paid Rs. 20,000 in cash and balance credit.
July 9 Goods worth Rs. 40,000 sold to Roshani for Rs. 45,000 and payment received in cash.
July 15 Goods worth Rs. 2,500 lost by theft and insurance company admitted claim for only Rs. 2,000.
July 26 Kusumita withdrew goods worth Rs. 5,000 & cash Rs. 2,000 from business for her private use.
July 28 Rs. 24,000 paid to Ratna Steel Furniture Pvt. Ltd after deducting Rs. 1,000 discount.
July 30 Paid the bank loan Rs. 52,000 with interest Rs. 2,000.
Required: Journalize the above transaction in the books of Kusumita.
| Date | Account Titles and Explanation | PR | Debit (Rs.) | Credit (Rs.) |
| July 1 | Cash a/c Dr. To capital a/c (For a boutique shop started with cash) | 600,000 | 600,000 | |
| July 3 | Computer a/c Dr. To cash a/c To Bank a/c (For a computer purchased on cash and credit) | 60,000 | 10,000 50,000 | |
| July 5 | Furniture a/c Dr. To Ratna Steel Furniture a/c (For office furniture purchased from Ratna Steel Furniture Pvt. Ltd) | 50,000 | 50,000 | |
| July 7 | Purchase a/c Dr. To Cash a/c To Accounts payable a/c (For goods purchased on cash and credit) | 60,000 | 20,000 40,000 | |
| July 9 | Cash a/c Dr. To sales a/c (For goods sold on cash) | 45,000 | 45,000 | |
| July 15 | Insurance company a/c Dr. Goods lost by theft a/c Dr. To Purchase a/c (For goods lost by theft and insurance company admitted claim) | 2,000 500 | 2,500 | |
| July 26 | Drawing a/c Dr. To cash a/c To purchase a/c (For goods and cash withdrawn for private use) | 7,000 | 2,000 5,000 | |
| July 28 | Ratan Steel Furniture a/c Dr. To cash a/c To discount a/c (Being cash paid to Ratan Steel Furniture Pvt.Ltd after deducting discount) | 25,000 | 24,000 1,000 | |
| July 30 | Bank loan a/c Dr. Interest on bank loan a/c Dr. To cash a/c (Being Bank loan paid with interest) | 50,000 2,000 | 52,000 |