Question

received a cheque from ram of Rs.19000 and cash Rs.3000 for selling machine journal entries​

Answer 1

Answer:

Bank A/C Dr. 19,000

Cash A/C Dr. 3,000

To Ram A/C 22,000

(Being cheque and cash received from Ram)

Answer 2

Concept:

Journal is the primary book of records which is maintained to record all business transactions.

Given:

A statement that:

Received a cheque from ram of Rs.19000 and cash Rs.3000 for selling machine.

To find:

Journal entry for the above transaction.

Solution:

The rule of journal to be followed here is:

Debit what comes in,

Credit what goes out.

The journal entry will be given as:

Cheque in hand A/c                             Dr.         19000

Cash A/c                                               Dr.          3000

                   To Machinery A/c                                       22000

(For sale of Machinery)

Therefore, this will be the journal entry made.

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