Question

What will ve the transaction of sold goods to govind cash rupees 10000 and credit 2000?

Answer 1

Cash @/c..dr..10,000
To Sales a/c.......... 10,000
( being goods sold on cash)

Govind.. dr 2,000
To sales a/c....... 2,000
(being sales on credit)

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

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reason for debit and credit

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

Debtors A/c - personal A/c , rahim is receiver of goods , therefore its debited

Cash A/c - real A/c , money comes in to the company therefore its debited

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Journal entry

Cash A/c Dr 10000

Govind A/c Dr 2000

To sales A/c 12000

(being sales made)

Hope its useful..!!