Question

Mr.ram bought some furniture for Rs.5600 in cheque from axis bank
Journal entries

Answer 1

Journal entries

Furniture A/c   Dr   5600

      To Axis bank or bank A/c    5600

(being furniture brought through cheque

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Reason for debit and credit

Furniture A/c - its in the nature of real A/c , where debited comes in and credit goes out , as furniture brought to the business its debited

Bank / Axis bank A/c - its in the nature of  personal A/c , where debit the receiver and credit the giver , in this case we give cheque to the supplier so bank its credited

Answer 2

the journal entry will be

furniture a/c dr 5600 -

to axis bank a/c - 5600