Question

Balance due from Aparna rs 60,000 do journal entry of this statement

Answer 1

Explanation:

In a double entry accounting process, an accounting journal entry is the written record of a business transaction. The entry contains an equal debit and credit with account names, payment summary, and business event date. The balance due entry in this case will be-

Aparna a/c  Dr. 60,000

To payables a/c Cr. 60,00

( Being the balance due on Aparna)

Answer 2

This is a very simple accounting transaction, if we understand the golden rules of accounting. Here, Rs. 60,000 is due from Aparna therefore we credit her account and debit the receivables account.

Explanation:

The rule used here is:

Personal account - Debit the receiver credit the giver..

Therefore the journal entry will be:

Bills receivables A/c....Dr  60,000  

To Aparna A/c                                     60,000        

(Being balance due from aparna)

As per the given question aparna is due Rs.60,000, which she has to pay the firm therefore she is considered a debtor, therefore  bills receivables will be debited due to the accounting rule of personal accounts and aparna the debtor will be credited as she is due.