Question

Goods returned to Anurag rs.5000

Answer 1

Answer:

Explanation:

Particulars  Debit Credit  

Anurag A/c 5000  

To Purchases Return A/c  5000

(Goods returned)  

Answer 2

Answer:

Journal entry

Explanation:

Anurag A/c  Dr 5000  

To Purchases Return A/c  Dr 5000

( Being goods returned by anurag)

Policies of journal access

• While a enterprise transaction takes location, and we have to make a journal entry, we have to observe these rules:

• A magazine entry have to affect at least 2 money owed in a double-access bookkeeping system. also, one of the bills must be debited, and the opposite one ought to be credited.

• The debit amounts and the credit score quantities must be equal.

Journal access layout

• The first column indicates the date on which the transaction happened and the magazine entry wide variety.

• The second column consists of the names of the debited and credited bills. We additionally consist of a brief description of the motive for the entry in this column.

• The third column data the amount of the account that's debited.

• The fourth column statistics the quantity of the account that's credited.

What is journal? what are the basic rules of passing journal entries? ​

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Rules of journal entry​

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