Question

cleared a bill of 3000 of Mr ram journal entry​

Answer 1

This is a very simple question …..

Here are 2 accounts involve in this transaction 1—-Ram account 2—Bank account

According to modern approach…… Journal entry rules…..

Ram is personal account..rules is Dr. the receivers…..cr. the giver …. So Ram ac. dr.

Bank is real account ….rules are debit what's come in…and…credit what goes out…..so entry is Bank account credit…

Journal entry…..rules of dubble entry system …..

Ram's A/c…….dr.

Bank A/c ……cr.

( being cash paid to Ram from bank account )