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3 years ago

Issued a cheque of rs. 39000 to Saurya stores in full settlement. journal entry

Business

1 answer:

Semmy [17]3 years ago

4 0

Answer:

When issuing a check to a creditor as is being done here, you need to debit the creditors account (Accounts Payable) to show that you are paying off the debt.

You also need to credit cash because a credit will show that cash was used to pay for something and so has reduced.

Date Account Title Debit Credit

XX-XX-XXX Accounts Payable - Saurya Stores Rs. 39,000

Cash Rs. 39,000

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Issued a cheque of rs. 39000 to Saurya stores in full settlement. journal entry​

Issued a cheque of rs. 39000 to Saurya stores in full settlement. journal entry