Question

Journal entry for
Sold goods to ms ray and co. , Kolkata

Answer 1

golden principles.

real account

: Debit what comes in,

Credit what goes out.

nominal a/c

: Debit all expenses and losses,

Credit all incomes and gains.

personal account:

Debit the receiver,

Credit the giver.

the journal entry will be.

mr.ray a/c dr

to sales a/c

( being goods sold on credit to ray. )

here ray account is debited because he is receiving the goods. see personal account rule

here goods/sales account is credited because they are leaving the organization.

see the real a/c rule.

Answer 2

Ms Ray and co. Kolkata a/c. Dr
To sales a/c
( being goods sold to ms Ray and co.,Kolkata)