What is the journal entry for goods sold to Mr A in 1 month
credit of rs 5000. and also pass entry for non repayment of
money after 1 month by Mr A. (What entry will come for this?)
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A Dr. 5000.00
To Sales Account 5000.00
(Being Goods Sold on Credit invoice No....... for one month
credit)
there is only one entry pass coz no need for repayment entry
| Is This Answer Correct ? | 23 Yes | 0 No |
Answer / max
Revenue Journal Entry
Debit Credit
Accounts Receivable 5,000.00
Sales REvenue 5,000.00
To record Sales on account
No entry to be passed for non repayment. The 5,000.00 collectible will still remain in Accounts Receivable
| Is This Answer Correct ? | 8 Yes | 8 No |
Answer / simarvir
Mr.A a\c dr 5000
To sales a\c 5000
cash a\c dr 5000
To Mr.A a\c 5000
| Is This Answer Correct ? | 7 Yes | 11 No |
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if we wrongly entered a payment as a receipt in cash book i.e 500000. then what is the difference in cash book and bank statement during the bank reconciliation.
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