Question

what is a journal entry of paid trade expenses

Answer 1

In accounting, a Journal entry is logging of a transaction into accounting journal items. It is a summary consisting of all the debit and credit details made from the account.

The Journal entry for trade expenses that are paid in cash are written as –

Trade Expenses A/c.            Dr.

To Cash A/c.

For example, if Rs. 500 is paid as trade expense, then the entry will be –

 

Trade Expenses A/c.   Dr. Rs. 500/-

To Cash A/c.  Rs. 500/-

 

Answer 2

Answer:

Trade expenses A/C Dr 5,000

To cash A/C 5,000

Explanation:

For example paid trade expenses 5,000