Question

Journal entry for sold household furniture and paid the amount into business 2000

Answer 1

Cash a c Dr.
To furniture a c

Cash a c Dr.
To capital a c

plz mark it as brainliest.

Answer 2

3 golden rules

• debit the receiver , credit the giver

•       debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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Journal entry

Cash A/c  Dr  2000

     To Furniture A/c   2000

(being furniture sold)

*explanation

furniture sold is an asset to the company . its assumed that value of asset on that date is same with sales value .so no profit or loss

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2)  Cash A/c  Dr   2000

            To capital A/c           2000

(being cash brought into the business )

* explanation

cash received from sale of furniture is investment in business so entry same is cash brought in business.