Satya Paul started a new business on 1st April 2017.

For the first quarter, his transactions are listed

below.

1. Started business with ₹ 1,000,000 capital in cash.

2. Opened a bank account and deposited ₹ 990,000 in the bank.
3. Paid towards rent ₹ 60,000 by cheque.
4. Bought stationary for ₹ 7,000 paid in cash.
5. Invested ₹ 100,000 in government bonds through bank account.
6. Bought machinery for ₹ 250,000 paid through bank account.
7. Bought furniture for ₹ 150,000 from M/s Furniture Mart on credit.
8. Bought goods for ₹ 400,000 paid by cheque.
9. Bought goods for ₹ 200,000 from X Limited on credit.
10. Sold goods for cash ₹ 550,000.
11. Made part payment to X in cash ₹ 150,000.
12. Sold goods to Y on credit for ₹ 250,000.
13. Received part payment from Y by cheque for ₹ 175,000, allowed him discount of ₹ 5,000 for
prompt payment.
14. Received interest on investment ₹ 1,000 by cheque.
15. Paid salary to employees by cheque ₹ 110,000.

You are required to do the following:

1. Analyze the above transactions and pass necessary journal entries.
2. Post the transactions in the Ledger Accounts.
3. Prepare a Trial Balance as on 30th June 2017.