Question

Sold shares of rs. 10,000 for rs.15,000 and amount received by cheque what is journal entry​

Answer 1

Answer:

Cash a/c Dr

To sales a/c

Discount Allowed

10,000

15,000

Answer 2

Answer:

bank a/c ........Dr. 15000

to shares a/c 10000

to dividend a/c 5000

Explanation:

in this transaction ,we brought shares at amount of 10000 and we sold them at 15000 ,so we got 5000 dividend and we received amount by cheque so the amount will transfer to bank account that's why I used word bank a/c