Question

Sold goods to Rajiv — Journalise this transaction

Answer 1

Answer:

Rajiv a/c ......Dr.

To Sales a/c

Explanation:

Rajiv is a personal account and he is becoming our debtor (By Dr. the receiver Cr. the giver rule of personal accounts) so he is debites

Sales is a nominal account so it is an expense and thus credited (By Dr. all expenses and losses, Cr. all incomes and gains rule of nominal accounts)

Answer 2

Journal entry

Explanation:

                          Books of (---Limited)

                              Journal Entry

Date    Account Title and Explanation   Debit   Credit

                    Rajiv                         A/c Dr.    xxx

                     To sales                   A/c                   xxx

                ( Being good sold to Rajiv on credit)

Explanation: Rajiv is a debtor for the company, So Rajiv will be debit.

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