Question

cash at bank Rs 15000​

Answer 1

Answer:

Cash comes under the head Real Account and the Golden Rule for Real Account is :

“ Debit what comes in” & “Credit what goes out”

Bank comes under Personal Account and the Golden Rule for Personal Account is :

“Debit the Receiver” & “Credit the Giver”

Sales is a source of revenue/income generation and comes under Nominal Account. The Golden Rule for Nominal Account is :

“Debit all Expenses & Losses” & “Credit all Incomes & Gains.

So therefore, journal entry for Cash Sales of ₹15000 will be :-

Cash A/c…… Debit

(cause when we sell in cash, cash comes Into the business and therefore Debited)