Question

journal entry to Sold goods of 10000 to suresh​

Answer 1

Answer:

Cash a/c To sales a/c

Explanation:

As we have sold good to suresh in this entry name of suresh will be writen in naration.If we write Naresh a/c then question arrise that why we got money from Naresh.

Answer 2

Journal Entry:

Date: January 31, 2023

Debit: Accounts Receivable - Suresh 10,000

Credit: Sales 10,000

• On January 31, 2023, we sold goods worth 10,000 to Suresh.

• This transaction increases our Accounts Receivable balance, as we have not yet received payment from Suresh.

• The sale of goods also increases our Sales account, which reflects the increase in revenue from the transaction.

• The debit to Accounts Receivable represents our right to receive payment from Suresh for the goods we sold.

• The credit to Sales represents the revenue earned from the sale of goods to Suresh.

In conclusion, this journal entry records the sale of goods worth 10,000 to Suresh and the corresponding increase in our Accounts Receivable and Sales accounts.

This transaction is an important part of our accounting records, as it helps us to track the inflow of revenue and the outstanding payments we are yet to receive.

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