Question

office equipment of rupees 50000 on cash and of rupees 70000 on credit from Jayaraj​

Answer 1

Answer:

Sorry can't understand the question

Answer 2

Office equipment of rupees 50000 on cash and of rupees 70000 on credit from Jayaraj​

• When money is taken out for personal use or personal expenses, drawing accounts are debited (type of account: personal).
• Additionally, the corporation is disbursing cash, which will result in a credit to cash accounts (kind of account: real).
• Record in journal:
• take into account (Dr.) Debit Rs. 55,000
• (Credit) Rs. 55,000 to the Cash account.

• As the vendor, you would debit a revenue account and an asset account for their form of payment. For instance, if someone paid with cash, you would: Debit Cash (Bank with accounting software)
• Credit Sales or Service Revenue, or whatever your revenue account's name happens to be.
• However, if this was a sale on account, you would maintain the credit side as is. The Accounts Receivable account would be debited. The deal might have been done partially in cash and partially on account. In this instance, the corresponding amounts would be debited from both Cash and Accounts Receivable. The credit side would also be identical to above. Therefore, the specific entry you would make depends on the sale's specifics. As an illustration.

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