rent outstanding rs 5000 journalise this transaction
Answers
Answer:
the answer is ₹5000 dear
Explanation:
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CBSE Class 11-commerce - Ask The Expert
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Journalise the following transactions :
2016
Rs.
May 2
Rent outstanding.
5,000
May 3
Received interest on loan from the debtor.
35,000
May 4
Paid installation charges of a machine Rs.1,350 in cash.
May 5
Out of insurance paid this year, Rs.4,000 are related to next year.
May 21
Returned goods to Sita.
850
Asked by Topperlearning User | 28th Jul, 2016, 05:34: PM
Expert Answer:
Journal Entry
Date
Particulars
L.F.
Dr.
Rs.
Cr.
Rs.
2016
May 2
Rent A/c Dr.
5,000
To Outstanding Rent A/c
5,000
(Being the outstanding rent accounted)
May 3
Cash A/c Dr.
35,000
To Interest on Loan A/c
35,000
(Being interest on loan received)
May 4
Machinery A/c Dr.
1,350
To Cash A/c
1,350
(Being installation charges paid)
May 5
Advance Insurance A/c Dr.
4,000
To Insurance A/c
4,000
(Being insurance prepaid for next year)
May 21
Sita A/c Dr.
850
To Purchases Return A/c
850
(Being goods returned to Sita)