tical Assignment 12:
Goods purchase from Ramesh 100000, 50000 by cash.50000 by cheque.
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First of all lets Recall the rules of journal
Golden Rules of Journal
Personal account rule
Debit- The receiver.
Credit- The giver.
Real account rule
Debit- What comes in.
Credit- What goes out.
Nominal account rule.
Debit- All expenses and losses.
Credit- All incomes and gains.
Now
The journal entry will be
Purchases A/C DR ₹ 1,00,000
To Cash A/C ₹ 50000
To Bank A/C ₹ 50000
(Being goods purchased and paid by cheque and cash)
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