Question

cash sales 5000 journal entry

Answer 1

cash a/c dr... 5000
To sales a/c............ 5000
( cash sales)

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

Question analysis

2 accounts affected

Cash A/c - real A/c , where money comes to the company therefore its debited

Sales A/c - nominal A/c , which is income to the business therefore its credited as per rules

Journal entry

.Cash A/c Dr 5000

To sales A/c 5000

(Being cash sales made)

Hope its useful..!!