pls explain how to do a journal entry with an example!
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For doing a journal entry one should know about its rules (rules of debit and credit) then only person can able to do journal entry for example machinery purchased for 20000 in cash so the journal entry pass
Machinery a/c Dr
To cash a/c
(because machinery is asset and rule says lncrease in asset are debited ,decrease are credited ) machine purchase ki asset increase hui par cash bhi asset h aur cash decrease hua iseliye credit hua
Machinery a/c Dr
To cash a/c
(because machinery is asset and rule says lncrease in asset are debited ,decrease are credited ) machine purchase ki asset increase hui par cash bhi asset h aur cash decrease hua iseliye credit hua
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