व्हाट इज द जर्नल एंट्री फॉर रिपेयरिंग चार्ज ऑन द सेकंड हैंड मशीनरी
Answers
Explanation:
3 golden rules
personal accounts - debit the received and credit the giver
real accounts -debit what comes in and credit what comes out
nominal accounts - debit all the expenses and losses, credit all the income and gains
as per the question 2 accounts affect Repair on machinery expenses account and cash account .
Repair on machinery expenses - Nominal account
Cash account - real account
by applying the golden rules ,
increase in expenses and decreases in bank ( asset)
Reapir on machinery expenses is expenses therefore its debit . Cash is real account where cash which goes out of business therefore its credit .
Journal entry
Repair on machinery A/c Dr
To cash A/c
(being repair charges paid)
Answer:
3 golden rules
personal accounts - debit the received and credit the giver
real accounts -debit what comes in and credit what comes out
nominal accounts - debit all the expenses and losses, credit all the income and gains
as per the question 2 accounts affect Repair on machinery expenses account and cash account .
Repair on machinery expenses - Nominal account
Cash account - real account
by applying the golden rules ,
increase in expenses and decreases in bank ( asset)
Reapir on machinery expenses is expenses therefore its debit . Cash is real account where cash which goes out of business therefore its credit .
Journal entry
Repair on machinery A/c Dr
To cash A/c
(being repair charges paid)