purchase goods from ram rs 14500 and cheque paid rs8000 how it will solve
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purchase ac dr 14500
to bank account 8000
to rams account 6500
(Being goods purchased from ram partly cash and partly on credit )
purchase account follows rule of debit all expenses and loss (nominal account )
Bank account follows rule of credit what goes out (real account )
Rams account follows rule of credit the giver
(personal account )
to bank account 8000
to rams account 6500
(Being goods purchased from ram partly cash and partly on credit )
purchase account follows rule of debit all expenses and loss (nominal account )
Bank account follows rule of credit what goes out (real account )
Rams account follows rule of credit the giver
(personal account )
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