Question

journal entries of purchase good from chandan 20000, amount paid by cheque

Answer 1

i think its by cheque(bank) 20000 nd To chandan a/c 20000

Answer 2

3 golden rules

personal accounts - debit the received and credit the giver

real accounts -debit what comes in and credit what comes out

nominal accounts - debit all the expenses and losses, credit all the income and gains

as per the question 2 accounts affect purchase account and bank account as its paid by cheque.

Purchase account - Nominal account

BAnk account - real account

by applying the golden rules ,

increase in stock (asset ) and decreases in bank ( asset)

purchases is expenses therefore its debit . bank is real account where cash which goes out of business therefore its credit .

Journal entry

Purchases A/c Dr

           To Bank A/c

(Being Purchased goods )

Answer 3

3 golden rules

personal accounts - debit the received and credit the giver

real accounts -debit what comes in and credit what comes out

nominal accounts - debit all the expenses and losses, credit all the income and gains

as per the question 2 accounts affect purchase account and bank account as its paid by cheque.

Purchase account - Nominal account

BAnk account - real account

by applying the golden rules ,

increase in stock (asset ) and decreases in bank ( asset)

purchases is expenses therefore its debit . bank is real account where cash which goes out of business therefore its credit .

Journal entry

Purchases A/c Dr

          To Bank A/c

(Being Purchased goods )