Gopal sold goods to us... What will be the general entry?
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Answered by
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first of all its Journal Entry not general
now in books of Gopal,
Cash A/c or Our A/c. Dr.
To sales A/c
in our books
Purchase A/c. Dr.
To CashA/c or Gopal. (respectively)
now in books of Gopal,
Cash A/c or Our A/c. Dr.
To sales A/c
in our books
Purchase A/c. Dr.
To CashA/c or Gopal. (respectively)
Answered by
12
Journal Entry
In the Books of Our
Particular Dr.(Amount) Cr.(Amount)
Purchase A/C Dr.
To Gopal A/C
(Being sale of goods)
Explanation:
BASIC RULES FOR JOURNAL ENTRY
Increase in Liability (Credit)
Expenses is Debited
Aspect 1. Purchase is expense for us and Expenses will be Debited
Aspect 2. we Purchased goods with gopal and gopal is our creditor and creditor will Increase and Increase in liability means Credit (above given)
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