Debit cash / bank
Credit owners capital
debit cash receivedcredit accounts receivable
Dr cash/bank Cr discount received
[Debit] Cash / bank [Credit] Services revenue
debit cash 3000credit raman 3000
debit cash 12000credit ajay 12000
debit cash receivedcredit accounts receivable
Dr cash/bank Cr discount received
Banks have taxes.
debit cash 3000credit raman 3000
debit cash 12000credit ajay 12000
debit cash 12000credit ajay 12000
[Debit] Cash / bank [Credit] Services revenue
debit cash / bankcredit accounts receivable
Debit cash / bankCredit commission received
[Debit] Cash account xxxx [Credit] Commission received xxxx
if cash received then cash is debit while if cash is paid then cash is credit with other account towards which payment made or amount received.
If dividend received is reinvested then there is no journal entry is required and this information can be mentioned through the use of memo entry.There is no journal entry required for dividend received reinvested as nothing is received by person or company so memo entry is enough for information purpose.