Question

Journalise the following transaction and prepare ledger accounts in the books of sanjeev.
1 june 2019 Cash received from raju Rs.10,000 fpr commission

Answer 1

Answer:

cash a/c dr 10,000

To raju a/c 10,000

(being cash received from raju)

and no ledger for sanjeev because there is no tansaction relating sanjeev

Answer 2

JOURNAL ENTRY

Explanation:

for journal above there are basic rules for pass journal entry

Increase in asset (debit)

Income is credit

Cash received from raju Rs.10,000 for commission

Aspect 1: cash is received Cash is Asset & Increase in Asset means debit

Aspect 2 : commission is income & Income will be credited

Now Main part of Question, Journal

                                              In the books of sanjeev

Date             Particulars                 Lf            Dr.(Amount)              Cr.(Amount)

1 June        Cash A/C           Dr.                        10000

2019                    To Commission A/C                                              10000

                          (Being Commission received )

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