Question

The following transactions were completed by Mr. Ashraf as a computer merchant, under the name of 'Best Computer' for the month of March 2016: March 01: Invested cash Rs. 900,000/- ans furniture worth Rs 100,000/-. March 05: Purchased on Credit from Asian Computers 7 computers @ Rs. 60,000/- each. March 10: Deposited cash in to bank Rs. 500,000/-. March 12: Paid for electric bill Rs. 10,000/-. March 20: Sold 5 computers on credit to Umer Computers @ Rs. 75,000/- each. March 25: Received cash from 'Umer Computer' Rs, 370,000/- in full settlement of their account. March 29: One computer worth Rs. 60,000/- was taken for personal use. March 31: Paid rent of the shop Rs. 25,000/- by chequeen. Prepare Entries in General Journal.