paid octroi and cartage
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This transaction affects two accounts
cartage account (expenses met) and cash account(Paid in cash)
The Three golden rules of accounting are
Personal Account - Debit the receiver, credit the giver
Real account - Debit what comes in, Credit what goes out
Nominal account - Debit All expenses and Losses, credit All incomes and gains
cartage is a nominal account ; expense should be debited
cash is a real account ; It is Going out..hence should be credited
So the Journal Entry will be
Cartage account Dr xxxx
To Cash account ××××
(being cartage Paid)
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സബ്സ്ക്രൈബ് issisissiisssiss
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