Mr. X owns a small business selling handmade crafts. He recorded the following transactions during the month of March:
On March 1st, he bought raw materials worth Rs. 10,000 on credit. On March 5th, he sold goods worth Rs. 8,000 for cash. On March 10th, he paid Rs. 5,000 to his suppliers for the raw materials he had bought on credit. On March 15th, he sold goods worth Rs. 12,000 on credit. On March 20th, he received Rs. 6,000 from his customers who had bought goods on credit. On March 25th, he paid Rs. 2,000 to his employees as a salary. On March 31st, he paid Rs. 1,500 as rent for the premises. Based on the above information, answer the following MCQ questions: