Answer in One Sentence:
1What is Journal ?
2What is Narration ?
3What is GST?
4In which year GST was imposed by the Central Government of India ?
5What is meant by simple entry?
6What is the meaning of combined entry?
7Which account is debited, when rent is paid by Debit card ?
8Which discount is not recorded in the books of account?
9In which order monthly transactions are recorded in a Journal ?
10Which account is credited, when goods are sold on credit ?
7)
8)
9)
10)
Answers
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Answer:
1)A written account of what you have done each day.
2)Narration is the process of recounting a sequence of events, real or imagined. It's also called storytelling.
3)An indirect tax imposed in India on the supply of goods and services.
4)2017
5)An accounting entryin which just one account is debited and one is credited.
6)A type of data entry in which multiple journal entries of credits and debits are combined into one entry.
7)Since cash was paidout, the asset account Cash is credited and another account needs to be debited.
8)Trade discount
9)Transaction are recorded in all of the various journals in a debit and credit format.
10)Recording Sales of Goods on Credit.
Hope it helps....☺️☺️
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