Question

what will be the journal entry for sold goods to mayank of rs 100000. 25 % payable at the time of sale and balance after 30 days

Answer 1

Hello!!!

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The journal entry for," Sold goods to Mayank of rs. 100000 . 25% patable at the time of sale and balance after 30 days will be:-

Cash account . Dr 25000
Mayank account . Dr 75000
To sales account. 100000

(being goods sold )

Since 25% cash is recieved so, cash account is debited .

Answer 2

heyaa,,,
it's journal entry will be;
cash a/c Dr 25000.
Mayank a/c Dr 25000.
to sale a/c 1,00,000
(being goods sold to Mayank)