Question

5. Received from hari​

Answer 1

Answer:

Cash A/C Dr Rs,-----

   To Hari A/C Rs.------

(being cash received from Hari)

Explanation:

So the current transaction affects two accounts...

,cash account(amount is received in the form of Cash)

Hari account is a Personal account (as the name suggests)and he is paying us..

cash account is a real account.(cash balance is an asset ; all assets and Liabilities come under Real account)

The Three golden rules of accounting are..

Personal account - Debit the receiver ,credit the giver

Real account - Debit what comes in ,credit what goes out

Nominal account - Debit All expenses and losses credit , All incomes and gains

cash accounts are to be debited..(expense ; money is comingin)

Hari account should be credited (hari is giving/the giver)

So the Journal Entry will be...

cash a/c Dr --------

To Hari a/c. ---------

(Being cash received from Hari)