Question

Goods sold to ram rs 200

Answer 1

Goods sold to ram

journal entry :

In this transaction the name of the purchaser is given and it is not mentioned that the goods have been sold for cash, it will assumed that the goods have been sold on credit. Ram is the Receiver of goods, as such, his personal account has been debited According to the rule of personal account, i.e., “Debit the Receiver”. Sales A/c will be credited according to the rule of Nominal account i.e., “Credit all incomes”.

So, the Journal entry for the above mentioned transaction is :-

Ram A/c. Dr.... (Amount)

To Sales A/c.(Amount)

(Being Goods Sold to Ram on credit)