Question

1. Explain the double entry mechanism with an illustrative example.

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Answer 1

Answer:

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Explanation:

For example- we received ₹20,000 from Mohan. This transaction affects two accounts- Cash Account and the Johan's Account. Cash account is receiving a benefit (as cash is coming in) and hence Cash account will be debited, whereas Mohan is yielding a benefit and hence his account will be credited.

Answer 2

For example- we received ₹20,000 from Mohan. This transaction affects two accounts- Cash Account and the Johan's Account. Cash account is receiving a benefit (as cash is coming in) and hence Cash account will be debited, whereas Mohan is yielding a benefit and hence his account will be credited. please mark as brainliest