Following balances appeared in the books of Ashok, Delhi on 1st April, 2018:
Assets: Cash – Rs. 50,000; Stock – Rs. 30,000; Debtors – Ram Rs. 50,000; Machinery – Rs. 60,000.
Liabilities: Creditor – Rajesh Rs. 30,000.
The following transactions took place in April, 2018:
| 2018 April 4 | Sold goods for cash | 7,000 |
| April 6 | Goods returned by Ram, Delhi | 1,000 |
| April 10 | Purchased goods from Rajesh, Jaipur (Rajasthan) of list price Rs.10,000 for discount and 5% cash discount and paid 40% price Immediately | 9,000 |
| April 20 | Paid for the life insurance premium of the proprietor | 38.600 |
| April 25 | Paid to the Life insurance premium of the proprietor | 500 |
| April 30 | Received for Commission | 2,000 |
CGST and SGST @ 6% each is levied on intra-state transactions and IGST is levied @ 12% on inter-state transactions. Transactions marked (*) are not subject to levy of GST.
Pass Journal entries for the above transaction, post them into the Ledger and prepare the Trial Balance on 30th April, 2018.
