Question

What will be the entry of cash sales rupees 10000

Answer 1

Cash sales means sales are done by the business and in the form of cash not on credit...


So in this cash is come in the business and goods goes out of the business.. The journey entry will be - -

Cash @/c dr. 10,000


.. To sales a/c ... 10,000


( being cash sales )

Answer 2

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

--------------------------------------------------------------------------------------------------------------

reason for debit and credit

Sales A/c - Nominal A/c ,its a income of the company , therefore its credited

Cash A/c - Real A/c , cash comes into the company , therefore its debited

----------------------------------------------------------------------------------------------------------------

Journal Entry

Cash A/c Dr 10000

To sales A/c 10000

(being Cash sales made)

------------------------------------------------------------------------------

* No GST added