Question

cash paid to creditors Rs 5000 in journal entry​

Answer 1

Answer:

creaditors a/c _____dr ₹5000

To Cash a/c ₹5000

Answer 2

JOURNAL ENTRY IS AS FOLLOWS:-

Creditors Account. Dr. Rs 5000

To Cash Account. Rs5000

(Being Cash paid to creditors Rs 5000)

• Giving rise to payment to creditors in cash will be classified as a cash transaction. This transaction will lessen the balance of cash on the asset side and reduce the balance of creditors on the side of liabilities.
• Accounts Payable Journal Entries pertain to the amount payable in accounting entrances to the company's creditors for the purchase of goods or services. They are noted under the current head liabilities on the balance sheet, and this account is debited whenever any expense has been made.

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