Question

Paid telephone 1000 by cheque
What will be it's journal entry

Answer 1

Telephone expense A/c. 1000
To bank A/c. 1000

Answer 2

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

---------------------------------------------------------------------------------------------------------------

reason for debit and credit

Telephone charges A/c  - nominal A/c , its the expenses to the compnay therefore its debited

Bank A/c - personal A/c ,banker is the payer , therefore its credited

.--------------------------------------------------------------------------------------------------------------

Journal entry

Telephone Charges A/c   Dr   1000

            To bank A/c                                 1000

(being telephone charges paid)