Question

Journal entry of sold old newspaper rs.200

Answer 1

heyaa,,,,
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Journal entry for sold old newspaper rs.200 will be;
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cash a/c dr 200
to miscelaneous income a/c. 200
(being old news paper sold.)
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¤ Reason for debit and credit;
cash is coming in so, it will be debited.
sales of old news paper is an income for the business so, miscelaneous income will be credited.
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