Question

Received claim from mohan and co. For defects in goods supplied to them claim admitted journal entry

Answer 1

loss due to defect a/c Dr

to Mohan and co alc

(since due to defects we need to bear the expenses and also the liability towards Mohan and co also increases)

Answer 2

Answer:

Explanation:

A Journal is the book of original entry or prime entry in which transactions are recorded in the books of accounts from the source documents. The transactions are recorded in a chronological order, i.e. as and when they take place. The transactions are recorded following the double-entry system of accounting.