Question

Cash received from Manohar was debited to his account rs.150

Answer 1

cash a/c dr.. 150
To Manohar......... 150

( being cash receive on credit)

Answer 2

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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Reason for debit and credit

Cash A/c -real A/c , where cash comes in to the business , therefore its debited

Manohar A/c - personal A/c , manohar is giver of money to us therefore its credited.

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Journal entry

Cash A/c Dr 150

To Manohar A/c 150

(being cash received from amnohar )