Question

received 9000 as refund of income tax (journal entry)

Answer 1

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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reason for debit and credit

Bank A/c - real A/c , banker is receiver from income tax department therefore its debited .. (usually, income tax directly credited to bank )

inocme tax refund - nominal A/c, its indirect income to the company therefore its credited .

Journal entry

Bank A/c Dr 9000

To income tax refund A/c 9000

(being income tax refund received)

Hope its useful..!!

Answer 2

Cash a c Dr.
To refund of income tax a c

Plz mark it as brainliest