Question

Journal entry for Goods sold for cash 7,000 and half of the sale proceeds deposited in bank​

Answer 1

Answer:

cash debit 7000 to sales 7000. 2nd entry bank debit 3500 to cash credit

Answer 2

Answer:

cash A/C Dr. 3500

bank A/C Dr .3500

to sells A/C. 7000

Explanation:

cash and bank account debit because half of the sale proceeds deposited in bank that's why we have written cash a/c Dr and bank a/c Dr to sells a/c

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