Question

Sold goods to devaraj for cash journal entry

Answer 1

heyaa,,,
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¤ journal entry for Sold goods to devaraj for cash will be ;
_________________________
cash a/c dr .
to sale a/c.
(being goods sold for cash)
_________________________
¤ reason for debit ;
¤ cash is coming in so it will be debited.
¤ reason for credit;
¤ stock is going to be decreased so, sale a/c will be credited.
_________________________
hope it helps☺☺☺

Answer 2

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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reason for debit and credit

Sales A/c - Nominal A/c, income to the company therefore its credited

Cash A/c - real A/c , money comes in to the company therefore its debited

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Journal entry

Cash A/c Dr

To sales A/c

(being cash sales made)

Hope its useful..!!