Answer Posted / sanjay nayak

Answered by Sanjay Nayak 9959620964
1. Personal Account - Debit the receiver and Credit the giver
2. Real Account - Incoming are debit and outgoing are credit
3. Nominal Account - all expenses and losses are debit and
income and gain are credit

Please help me in this entries Pass accounting entries for the following transaction in the books of XYZ company. A rendered professional service to company XYZ and sent an invoice dated 01/01/2016 for Rs 1,00,000/- + service tax Q1. Pass journal entry for the invoice received considering the service tax and TDS. Q2. Payment was made on 01/02/2016 by cheque. Pass payment entry.

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