Pass a journal entry in each of the following cases:
(i) A running business was purchased by Mohan with following assets and liabilities:
| Particulars | Amount (Rs.) |
| :---------------- | -----------: |
| **Assets:** | |
| Cash | 20,000 |
| Land | 40,000 |
| Furniture | 10,000 |
| Stock | 20,000 |
| **Liabilities:** | |
| Creditors | 10,000 |
| Bank Overdraft | 20,000 |
(ii) Sold goods to Gagandeep for RS. 1,00,000 at trade discount of 20% and charged IGST @12%
(iii) Goods distributed by way of free samples Rs. 10,000.
(iv) Goods of list price Rs. 40,000 returned by Gagandeep.
(v) Kuldeep became an insolvent and could pay only 50 paise in a rupee. Amount due from him Rs. 6,000. [RTP Jan. 2025]
Options
A
B
C
D
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