Question
Name the steps followed in accounting process.
| Identification of Transactions | $\Rightarrow$ | Preparation of Vouchers | $\Rightarrow$ | Recording in books of original entry | $\Rightarrow$ | Posting to Ledger | $\Rightarrow$ | Preparation of Trial Balance and Financial Statements |
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2023 |
| ₹ |
May 1 | Cash in hand | 34,000 |
| Balance with PNB Bank | 75,200 |
| Balance with SBI Bank | 1,20,000 |
May 3 | Cash drawn from SBI for office use | 25,000 |
May 8 | Sold goods to Pradhan for ₹ 80,000 and received from him ₹ 20,000 in cash and a cheque for the balance. The cheque is deposited in PNB on the $9^{\text {th }}$ and the bank credited the amount on the $15^{\text {th }}$ and debited ₹ 25 as its collection charges. |
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May 12 | Purchased goods for ₹ 40,000 at 20% trade discount. 25% of the amount is paid in cash and issued a cheque on SBI for the balance amount. |
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May 20 | Paid Wages ₹ 36,000 and Salary ₹ 4,000 . |
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May 22 | A cheque for ₹ 50,000 is drawn on SBI and it is deposited in PNB. |
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May 23 | Purchased land for ₹ 3,20,000 and a cheque is issued on PNB. |
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May 24 | A cheque for ₹ 10,000 which was received from Mukesh and was deposited in SBI on $25^{\text {th }}$ April is dishonoured and the bank debited ₹ 100 as bank charges on this cheque. The amount of dishonoured cheque and bank charges is received from Mukesh in cash on the $25^{\text {th }}$. |
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May 26 | Deposited cash ₹ 30,000 in PNB. |
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May 28 | Sold old typewriter for ₹ 2,000 and old newspapers for ₹ 200 in cash. |
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May 30 | Interest charged by PNB Bank ₹ 400 . |
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May 31 | Bank charges by SBI Bank ₹ 180 and PNB Bank ₹ 340 . |
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