Question

What will be journal entry of paid for miscellaneous expenses ?

Answer 1

Journal entry:

Miscellaneous Expenses A/c Dr.

To Cash A/c

Answer 2

Explanation:

A journal entry is first step of converting a business transaction into accounting form. It has two parts, debit and credit.

The debit and credit is determined by the rules of accounting. There are three types of accounts are real, nominal and personal.

In this case, two accounts affected are miscellaneous expenses and cash. Miscellaneous expenses belong to nominal accounts since they are expenses.

Cash belongs to real account since they are assets.

Accounting to golden rules of nominal accounts, all expense and loss should be debited and for real account, debit is what comes in and credit is what goes out.