4) What is Journal Entry of 1) Credit Sales.
2) Credit sales
with Discount.
3) Credit sales
with VAT.
4) Outstanding
Rent paid.
5) Credit Purchase.
6) Out
standing wages paid.
7) Bank over draft
8) bank charges
9) Dishonor check
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Answer Posted / satish
1. SALES
DEBITOR A\C Dr
To SALES A\C
2)DEBITORS A\C Dr
DISCOUNT ALLOWED A\C Dr
TO SALES A\c
3DEBITORS A\C Dr
To SALES A\c
TO VAT A\C
4)( PROVISION ENTRY )
RENT A\c Dr
To RENT PAYABLE A\c
RENT PAYABLE A\c Dr
To CASH OR BANK A\c
5)PURCHASES A\C Dr
vAT A\C Dr
To CREDITOR A\C
To DISCOUNT RECEIVED A\c
6)provison for salaries on 31st OR 30th OF every month end
SALARIES A\C Dr
To EMPLOYEES CONTRIBUTION TO ESI A\c
To EMPLOYEES CONTRIBUTION TO PF A\C
To SALARY ADVANCES A\c
To SALARIES PAYABLE A\C
SALARIES PAYABLE A\C DR
To CASH or BANK a\C
7)BANK A\C Dr
TO BANK OD A\c
8)BANK CHARGES A\c Dr
TO BANK A\c
9) CHEQUE ISUUING ENTRY TO BE REVERSED.
| Is This Answer Correct ? | 65 Yes | 14 No |
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