Question

Sold goods for ₹60,000 out of which goods worth 30000 were on credit to subhas journal entry

Answer 1

Answer:

Subhash Dr 30000

Cash A/c Dr 30000

To Sales A/c 60000

Explanation:

Cash and sales are part of real account and the rule for journalising is "Debit what comes in and credit what goes out" ((Goods were sold)) + ((Cash 30000 received because 60000 worth of goods were sold out of which 30000 were sold on credit so remaining 30000 were sold in cash)).

Subhash is our creditor and creditors are the part of Personal Account and it's rule for journalising is " Debit the receiver and credit the giver".