Question

cartage paid in journal entry

Answer 1

This transaction affects two accounts

cartage account (expenses met) and cash account(Paid in cash)

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

cartage is a nominal account ; expense should be debited

cash is a real account ; It is Going out..hence should be credited

So the Journal Entry will be

Cartage account Dr xxxx

To Cash account ××××

(being cartage Paid)

Answer 2

Journal entry

Explanation:

                                  Books of (----Limited)

                                      Journal Entry

Date         Account Title and Explanation       Debit   Credit

               Cartage Paid                        A/c Dr.     xxx

                       To Cash / Bank A/c                                    xxx

                            (Being cartage expenses paid.)

Note: Cartage paid is an expense, so it will be debit.

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