What should be the journals -
The opening balance in the book on February 1, 2006 were:
Due to Ram Rs 8500
Due from Ashok 4800
Cash at bank Rs 21750
Cash in hand Rs 4200

Liability to Ram: 8500
Asset (Account Receivable) due to Ashook 4800 (should be coded differently from bank balances or cash on hand for our personal accounting)
Asset (Bank Account) 21750
Asset (Cash on hand) 4200

Is that what you are asking?