Question

Bought computer from intel
computer for 25000 journal entry
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Answer 1

Answer:

computer a/c or purchase a/c Dr. 25000

to Intel computers. 25000

Answer 2

Answer:

The Purchases account will be debited by 25000 and the Intel computer will be credited with 25000/-. will be the journal entry.

Explanation:

Purchases a/c                           Dr. 25000

To INTEL COMPUTER                                             25000

( being computer purchased from Intel computers).

1. Journal refers to books of original entries.
2. In which monetary transactions are noted down for the first time in chronological order.
3. The word Jour in Journal is derived from the French word which means diary.
4. A journal is a daily record book in which transactions are recorded for the first time.
5. A journal records both debit and credit aspects of transactions according to the double entry system.
6. The transactions are recorded on a permanent basis which acts as evidence in case of emergency.
7. Each entry in the journal is followed by a brief explanation of the transactions which is called Narration.

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