Question

Journalize transaction no 7 and 8

21) Journalize the following transactions :

7) Depreciation of Rs. 5,000 was provided on the machinery at the end of the year.
8) A cheque from Rahul of Rs. 5,000 deposited in the Bank was returned dishonored.

Answer 1

Journal entries for 7&8 Transaction :

Depreciation A/c Dr. 5,000
To Machinery A/c 5,000
(Being depreciation charged)

Rahul A/c Dr. 5,000
To Bank A/c 5,000
(Being cheque deposited in bank dishonoured)


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