Question

Commission paid rs 3000 by cheque

Answer 1

Answer:

This can be answered by following the below two principles:-

Debit the receiver, credit the giver.

Debit what comes in, credit what goes out.

The journal entry shall be:-

Ram Chand A/c Dr. (Ram Chand is receiver of money)

To Bank A/c (Money is going out)

Normally, payment through cheque is treated as equivalent to payment via bank.

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Answer 2

Answer:

provided service to client Rs 7000 and received cash