Question

match for the following:
1. Capital introduced in business through cash
2. Outstanding Expenses paid
3. Cash deposited into bank
4. Goods returned by customer

A. Payment Voucher
B. Receipt Voucher
C. Credit Note
D. Contra Voucher

Answer 1

Answer:

Here you go!

Explanation:

1. Capital introduced through cash - Receipt Voucher

2. Outstanding exp. paid - Payment Voucher

3. Cash deposited into the bank - Contra Voucher

4. Goods returned by a customer - Credit note

JOURNAL ENTRIES

1. Cash A/c Dr

      To Capital A/c

2. O/s expenses A/c

      To Cash/Bank A/c

3. Bank A/c Dr

      To Cash A/c

4. Sales Return A/c Dr

      To Debtor's Alc