Question

journal entry for paid to mohan on account

Answer 1

Explanation:

Mohan A/c-Dr

To-Cash A/c

Answer 2

                                                       Journal

Particulars                                 Dr.(Amount)             Cr.(Amount)                  

Mohan A/C   Dr.

             To Bank A/C

(Being Paid to mohan on account)

Explanation:

Journal Entry's Rules

Decrease in Asset (Credit)

Decrease in Liability  (Debit)

Transaction:  paid to mohan on account

Aspect 1. Bank will be decreased and bank is asset and decreased in asset means Credit

Aspect 2. we paid mohan because mohan is our creditor, if we paid to him our liability will decrease and  decrease in liability means debit (above given)

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