(Some simple transactions).

No. Transaction Debit A/c Credit A/c
1. Started business with cash. Cash A/c Capital A/c
2. Started business with cash, bank balance. Cash A/c,

Bank A/c

Capital A/c
3. Borrowed loan from State Bank of India. Bank A/c SBI’s loan A/c
4. Borrowed loan from a friend. Bank A/c Friend’s loan A/c
5. Purchased machinery for cash. Machinery A/c Cash A/c
6. Purchased machinery for cash, payment made by cheque. Machinery A/c Bank A/c
7. Purchased furniture, payment made by accepting a bill of   exchange Furniture A/c Bills Payable A/c
8. Purchased goods, 50% payment made by cheque. Purchases A/c Bank A/c,

Creditors A/c

9. Goods purchased on credit, now returned. Creditors A/c Purchases Return A/c
10. Sold goods for cash. Cash A/c Sales A/c
11. Sold goods on credit. Debtors A/c Sales A/c
12. Sold goods, 50% payment received in cash. Cash A/c,

Debtors A/c

Sales A/c
13. Payment of an installment of State bank of India’s loan. SBI’s loan A/c Bank A/c
14. Bills Receivable received from a debtor. Bills Receivable A/c Debtors A/c
15. Deposited into Canara bank. Canara Bank A/c Cash A/c
16. Withdrew from bank for office use. Cash A/c Bank A/c
17. Withdrew from bank for domestic use. Drawings A/c Bank A/c
18. Payment of wages, rent by cheque. Wages A/c,

Rent A/c

Bank A/c
19. Returned to friend, loan borrowed from him, by cheque. Friend’s loan A/c Bank A/c
20. Bad Debts. Bad Debts A/c Debtors A/c
21. Cash received from Mahesh for commission. Cash A/c Commission A/c
22. Received rent. Cash A/c Commission A/c
23. Goods returned by our customers. Sales Return A/c Debtors A/c
24. Collection of cash from debtors after discount. Cash A/c,

Discount Allowed A/c

Debtors A/c
25. Payment to creditors after discount. Creditors A/c Cash A/c,

Discount received A/c

26. Depreciation on asset. Depreciation A/c Asset A/c
27. Appreciation to asset. Asset A/c Appreciation A/c
28. Interest on Loan. Interest on Loan A/c Loan A/c
29. Interest on bank deposit. Bank A/c Interest A/c
30. Outstanding expenses. Expenses A/c Outstanding expenses A/c
31. Expenses paid in advance (when these are paid). Prepaid expenses A/c Cash A/c
32. Accrued Income. Accrued Income A/c Income A/c
33. Income received in advance. (when it is received). Cash A/c Income received in advance A/c
34. Withdrew goods for personal use. Drawings A/c Purchases A/c
35. Goods given as charity. Charity A/c Purchases A/c

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