Purchases A/c -Dr 5000
To Sundry Creditors 5000
debit purchases
credit sundry creditors
Purchase Dr
To creditors
While in cash we have to write cash a/c instead of Creditors a/c
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
debit salary expensecredit cash
loss by theft A/c to purchases
Debit cash in handCredit bank
debit unexpired interestcredit interest paid
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
debit salary expensecredit cash
loss by theft A/c to purchases
Debit cash in handCredit bank
debit rent expensecredit cash / bank
Cash a/c Dr. To Sales a/c
debit unexpired interestcredit interest paid
Debit cash / bankCredit discount allowed
debit cash / bankcredit loan from bank
Debit cash / bankCredit share capital
[Debit] Electricity expenses xxxx [Credit] Cash xxxx
debit bankcredit cash