Question

journal entries for bought postage stamps for cash​

Answer 1

Answer:

Postage or stamps A/C Dr

To Cash A/C

Explanation:

Postage or stamps is purchased by the business, that is it comes to the business, hence Debit. So it should be written in the first. whereas cash goes out from the business as we make payment for Postage or stamps bought, hence Credit. Credit should be written starting with 'To'