Question

journal entry for debt paid for the month of January to march 2001 ₹3000

Answer 1

2001
Creditor a/c. Dr. 3000
To cash a/c. 3000

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Answer 2

Journal Entry :

Creditors A/C     Dr     Rs.3000

     To Cash A/C  (or) Bank A/C   Rs.3000

(Being debt paid for the months, Jan to March)

Explanation:

Creditors balance is decreasing. Hence, debited.

Cash Balance or Bank Balance is dcreasing . Hence, credited.