Question

prepare a journal....
place an order for hp printer for 15,000, amount advanced​

Answer 1

hello,,

Printer A/c Dr 15,000.

to Cash/ Bank A/c 5,000.

.......

Answer 2

Required Journal entry is given below :-

Advance for HP printer A/c Dr. ₹ ___

           To cash / bank A/c ₹ ___

Here the blank space of amount is to be filled with the amount which is paid in advanced.

In the given question we are provided the information that HP printer which costs 15,000 is ordered and some amount is paid in advanced.

Whenever we pay any amount in advanced, it becomes our asset. And we know that according to the modern rule of debit and credit, Assets when increase are debited and credited on decrease.

We don't record any journal entry when we place an order. Only the journal entry for amount which is paid in advanced needs to be recorded.