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Answer Posted / k. phalguna rao
as per the accounting concepts jurnal entry is primary base
element of accounting
what ever the the transaction has been made like (Personal
a/c, Real a/c & Nominal a/c) we have to pass the a jural
entry
first we have to debit one account, with the same amount we
have to credit the other account is called journal entry
Exp1: Cash received from Ramu for Rs. 500/-
Cash A/c Dr 500/- (Real account)
To Ramu A/c 500/- (Personal account)
Exp: Interest paid to Ravi of Rs. 1000
Interest Paid Ac Dr. 1000/- (Nominal account)
To Cash 1000/- (Real Account)
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