Prepare Journal entries and post them into ledger

accounts.

In June 2015, Mr. Ali organized a electronics business to provide electrical goods and services to his
valued customers. Called Ali’s Electronics, began operations immediately. Transactions during the month
of June were as follows:

1st June Ali invested 1,600,000 cash in his new business.

2nd June purchased energy savers, bulbs, rods and some solar energy savers from Utitlity Electronics for
220,000 . Made a 40,000 cash down payment and issued a note payble for 180,000.

3rd June Ali purchased some electric cattles, fans, cable wires, buttons and boards on cash 400,000.

4th June Ali sold savers and bulbs to Mehran Traders on Credit 100000.

5th June Ali returned some electric goods to Utility Electronics 2,0000 due to damage.

6th June Ali sent his electrician with a customer to repair his washing machine and received 1,0000 by
him.

7th June Ali paid for advertising his business 40000.

8th June Ali sold 4 fans to a customer 6000 each on cash.

9th June Ali paid for the shop rent 5000.

10th June he Received 40000 from Mehran Traders.

11th June he paid salary to Electrician 5000.

12th June Ali paid Rs 60000 to Jubily Insurance Company and insured his business.

13th June Ali withdrew cash from business to buy a laptop for his son 20000.