Question

Journal entry of electricity charges yet to be paid rs.55000

Answer 1

Hope this will help you.

Explanation:

When the expenses are due but not paid they are said to be the outstanding expenses. In such a case we make a journal entry be debiting the expense and crediting the account named as outstanding expenses account.

In our case electricity charges are outstanding so the entry will be

Electricity charges A/c Dr.       55000

   To Outstanding electricity charges 55000

Here we debited the electricity charges account as it is our expenses and credited the outstanding electricity charges account which is a representative personal account.

Answer 2

Journal Entry

Explanation:

                                Books of (---Limited)

                                   Journal Entry

Date           Account Title And Explanation         Debit   Credit

             Electricity charges              A/c Dr.          55,000

            To Outstanding electricity charges A/c              55,000

                          (Being amount of electricity not yet paid.)

Explanation: Outstanding electricity charges must be credited.

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