Journal Entries Question

Q. Mr. Mirza doodad Chandio has setup his Kulfa shop in Dubai to introduce this exquisite
delicacy to the Arab culture. He has named his business “Laziz Chandio Kulfa’ (LCK). The
transactions relating to the LCK for the month of March 2019 are listed below. All the payment
and receipts are in Bank.

Date Transactions

01 March Mr. Mirza doodad Chandio commenced the business with $ 5000 cash,

$20,000 Bank.

02 March Bought Kulfa Making Machine from Makashen co on credit worth $ 5500

03 March Sold Kulfa to customer for bank $900

05 March Paid Rent to the shop owner of $ 1200 for Bank

08 March Sold Kulfa on credit to Al Mukhjaj catering worth $ 1300

12 March Sold Kulfa on credit to Al Mukhjaj catering worth $ 2500

18 March Received Payment from Al Mukhjaj catering $ 1000 in cheque

22 March paid $ 4500 to Makashen co in cheque and received $ 1000 discount

25 March Recorded Salaries of Shop employees worth $ 6000

30 March Received $ 2000 from Al Mukhjaj catering and LCK allowed discount of
$800