Question

Journalise the following transactions

1. Paid for cartage
2. Paid ₹ 300 for newspaper and magazine
3. Newspaper and magazine sold for ₹ 200
4. Received ₹ 10,000 from the sale of old chair
5. Paid interest on loan in ₹ 500
6. Commission due but not received

Best answer will be marked as brainliest

Please give answer its very urgent.

Answer 1

Answer

Golden Rules of Journal

Personal account rule

Debit- The receiver.  

Credit- The giver.  

Real account rule

Debit- What comes in.  

Credit- What goes out.  

Nominal account rule

Debit- All expenses and losses.  

Credit- All incomes and gains.  

Now

The journals entries will be

 1. Cartage A/C     DR

          To Cash A/C

(Being paid for Cartage)

2.    Miscillaneous Expenditure A/C      DR     ₹ 300

                        To Cash A/C                                     ₹ 300

(Being Paid ₹ 300 for newspaper and magazine )

3.    Cash A/C       DR                            ₹ 200        

            To Miscillaneous Income A/C          ₹ 200

(Being Newspaper and magazine sold for ₹ 200 )

4.  Cash A/C    DR      ₹ 10,000

      To Furniture A/C               ₹ 10,000

(Being Received ₹ 10,000 from the sale of old chair )

5.   Interest on loan A/C       DR      ₹ 500

                 To Cash A/C                            ₹ 500

(Being Paid interest on loan in ₹ 500 )

6.    Accrued Income A/C     DR

                     To Cash A/C

(Being Commission due but not received)

                                                                                                             

Answer 2

1) Cartage a/c...Dr

To Cash a/c

2) Newspaper a/c...Dr 300

To Cash 300

3) Sale a/c...Dr 200

To Newspaper 200

4) Cash a/c...Dr 10,000

To Sale 10,000

5) Bank a/c...Dr 500

To loan a/c... 500

6) Bad Debts a/c....Dr

To Commission a/c...