what is journal entry. Let me have the detailed with
example. Also the difference between the journal and payment
entry.
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Answer Posted / seema pandey
Journal entry means when ,No cash Dr.or No Cash cr. in the
Journal Books. suppose we purchase a machine for amount Rs.
5000 from Rama & company. then I"ll entered in journal Book
Journal Book
Machine /Fixed Assets Purchase A/c Dr.
party name
payment entry is -
Rama & company A/c dr.
Cash / bank A/c
By being amount paid to rama & company for purchase
machine .)
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