Question

journal entry goods costing rupees 2000 sold at a profit of rupees 500​

Answer 1

Answer:

cash a/c dr 2500

to sales 2500              

Explanation:

it is not entered as profit and the selling price is taken,

the profit is balanced at the time if tb or p&l a/c

Answer 2

Answer : Cash a/c_______Dr. 2500

To Profit on sale a/c 500

To Sales a/c 2000