rajesh made the payment on account Rs 10,000.Journalise
Answers
Answer:
Business transactions of financial nature are classified into various categories of accounts
such as assets, liabilities, capital, revenue and expenses. These are debited or credited
according to the rules of debit and credit, applicable to the specific accounts. Every
business transaction affects two accounts. Applying the principle of double entry, one
account is debited and the other account is credited. Every transaction can be recorded
in journal. This process of recording transactions in the journal is’ known as ‘Journalising’.
In small business houses generally one Journal Book is maintained in which all the
transactions are recorded. But in case of big business houses as the transactions are
quite large in number, therefore journal is divided into various types of books called
Special Journals in which transactions are recorded depending upon the nature of
transaction i.e. all credit sales in Sales Book, all cash transactions in Cash Book and so
on.
Explanation:
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Explanation:
cash a/c Dr. 10000
to Rajesh a/c. 10000