Question

Give the journal for Cash received from Ram ₹400.

Answer 1

Hey,

The journal entry for given transaction will be..

Cash account. D/r 400
To Ram a/c. 400
(being cash received)

Answer 2

Cash A/c .. Dr     400  

To Ram A/c              400  

(being cash received from ram)  

Explanation:

This particular transaction is one of the simplest transactions in accounting. Here in this transaction the firm is receiving 400 rupees from Ram the debtor, if we make use of the golden rule of accounts which says debit all the items that come in and credit all the things that go out from the point of the firm.

We'll be able to find out our answer very easily. As cash is a current asset we will debit cash as there is an increase, this completely based on the rules of accounting.

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