Question

Ram's account in the account payable ledger has a rs 2000 beginning balance. after a transaction of rs 500 is posted from the purchase journal the balance in ram account is credit or debit?

Answer 1

Answer:

Debit or credit

Explanation:

Mn In the above question,we are given a few information.

1)Ram's account in the account payable ledger has a rs 2000 beginning balance.

2) after a transaction of rs 500 is posted

3)Ram has a minimum value of ₹2000 in his bank account.

4)Ram has purchased the journal which costs ₹500

5)Therefore the residual amount in the Ram's account will be

=₹2000-₹500-₹0(transaction charges,if any)-₹(minimum amount violation penalty charges,if any)

= ₹1500

So the Ram's account will contain less than ₹1500 after purchasing the journal