Question

Roy a company sale 100 book rs 1400 , 500 PCs shoe stand rs 1200 to ram for credit period of five days if he unable to pay on time then he will be charge 2% interest ram clear his dues on time, how to do entry in a tally?​

Answer 1

Answer:

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)

(1) Goods A/C

(2) Wages A/C

(3) Loan A/C

(4) Debtors A/C

(5) Creditors A/C

(6) Furniture A/C

(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

(10) Discount A/C

(11) Rent Received A/c (12) Building A/C

CANA