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what is journal entry ? please describe in detail.
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Answer Posted / ratisankar
NOW A DAYS THREE TYPES OF ENTRIES ARE FOLLOWED IN CORPORATE SECTOR JOURNAL,RECEIPT,PAYMENT BECAUSE THEY FOLLOWED ACCRUAL BASIS OF ACCOUNTING JOURNAL IS NOTHING BUT THE DUE ENTRY WHERE
CASH AND BAND DOES NOT AFFECT SO FOR SALES TO RAM FOR 10000
RAM A/C-----DR
TO SALES (DUE ENTRY)THIS IS JOURNAL
WHEN MONEY IS RECEIVED THEN RECEIPT ENTRY WILL PASS
cASH/BANK A/C------DR
TO RAM
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