sold goods to barun for journal entries
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Journal Entry for Sold Goods to Barun :-
In this transaction the name of the purchaser is given and it is not mentioned that the goods have been sold for cash, it will assumed that the goods have been sold on credit. Barun is the Receiver of goods, as such, his personal account has been debited according to the rule of personal account “Debit the receiver”. Sales account will be credited according to the rule of Nominal account “Credit all income”.
The Journal entry for above mentioned transaction is :-
Barun A/c. Dr ... [Amount]
To Sales A/c. [Amount]
(Being Goods sold to Barun on credit)
In this transaction the name of the purchaser is given and it is not mentioned that the goods have been sold for cash, it will assumed that the goods have been sold on credit. Barun is the Receiver of goods, as such, his personal account has been debited according to the rule of personal account “Debit the receiver”. Sales account will be credited according to the rule of Nominal account “Credit all income”.
The Journal entry for above mentioned transaction is :-
Barun A/c. Dr ... [Amount]
To Sales A/c. [Amount]
(Being Goods sold to Barun on credit)
Answered by
1
Journal entry for credit sales.
Explanation:
Books of (----Limited)
Journal Entry
Date Account Title and Explanation Debit Credit
Barun A/c Dr. xxx
To Sales A/c xxx
(Being goods sold to Barun)
Note: Goods sold to Barun and sales account will be credit.
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