Question

Journal entry for Payment of cash for petrol

Answer 1

Power and Fuel A/C Dr.

To Cash A/C

(Being Cash paid for petrol )

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 Cash account

Purchase account - Nominal account

cash account - real account

by applying the golden rules ,

payment for petrol is expenses therefore its debit . cash is real account which goes out of business therefore its credit .

Journal entry

Petrol or fuel charges A/c Dr

To Cash A/c

(Being paid for petrol)

Hope its useful..!!