Question 9 Chapter 4 - Unimax Publications of Class 11

 Question 9 Chapter 4 - Unimax

9. Record the following transactions in the books of Simran.
2021
Mar. 1 Borrowed Rs. 1,00,000 from Bank @ 10% interest.
Mar. 2 Borrowed Rs. 50,000 from Sunil.
Mar. 10 Repaid Rs. 25,000 to Sunil.
Mar. 15 Lent Rs. 1,00,000 to Rahul.
Mar. 18 Borrowed Rs. 44,000 from Simran's brother Jaideep @ 10% interest.
Mar. 20 Rahul Repaid Rs. 50,000.

The solution of Question 9 Chapter 4 - Unimax:

JOURNAL OF SIMRAN

Date	Particulars		L.F.	Debit	Credit
2021
Mar. 1	Cash A/c	Dr.		1,00,000
	To Loan from bank A/c				1,00,000
	(Being cash borrowed from bank)
Mar. 2	Cash A/c	Dr.		50,000
	To Sunil A/c				50,000
	(Being cash borrowed from Sunil)
Mar. 10	Sunil A/c	Dr.		25,000
	To Cash A/c				25,000
	(Being repaid to Sunil)
Mar. 15	Loan to Rahul A/c	Dr.		1,00,000
	To Cash A/c				1,00,000
	(Being cash lent to Rahul)
Mar. 18	Cash A/c	Dr.		44,000
	To Loan from Jaideep A/c				44,000
	(Being loan taken from his brother Jaideep @ 10% interest)
Mar. 20	Cash A/c	Dr.		50,000
	To Rahul A/c				50,000
	(Being cash repaid to Rahul)

This is all about the Question 9 Chapter 4 - Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

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Opening Journal Entry – its Rules and Examples - In Hindi