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3 years ago

A cheque of Rs 4500 received from yogesh and deposited into bank. Required: Journal Entry

Business

1 answer:

olga nikolaevna [1]3 years ago

3 0

Answer:

See below

Explanation:

This transaction will affect the bank balance by increasing it with the check amount. The bank is cash (asset ) held in the bank. An increase in assets account is a debit. The bank A/c will be debited.

The check is received from Yogesh. Yogesh must have bought goods on credit and hence is an account receivable (asset). Since Yogesh has paid, his account decrease by the check amount. A decrease in assets is credited.

The journal entry will be

Bank A/c DR. Rs 4500

Yogesh A/c Cr. Rs 4500

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3 years ago

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Answer:

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Explanation:

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3 years ago

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Answer:

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3 years ago

A company purchased inventory for $ 2 comma 000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. The

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Answer:

Inventory would be 1, 768

Explanation:

2,000 goods

+200 freight-in (A)

-400 returned goods

-32 discount (B)

1, 768 net amount for inventory

Notes:

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(B) goods x discount rate

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3 years ago

A cheque of Rs 4500 received from yogesh and deposited into bank. Required: Journal Entry​

A cheque of Rs 4500 received from yogesh and deposited into bank. Required: Journal Entry