Question

Ramesh and co. Paid on account.what will be the journal entry

Answer 1

Answer:

Ramesh and company acc..... dr

To Bank a/c

Answer 2

Answer:

The following are the rules of debit and credit which guide the system of accounts, they are known as the Golden Rules of accountancy:

First: Debit what comes in, Credit what goes out.

Second: Debit all expenses and losses, Credit all incomes and gains.

Third: Debit the receiver, Credit the giver.

Here, Ramesh and.co will be credited and bank account will be debited.

The entry follows...

Bank A/C dr.

To Ramesh and co.