Journal entry
This query is : Resolved
18 February 2015
dear experts
what entry should passed in case interest received from Ram
(1) cash a/c dr 500
To ram 500
or
(2) cash a/c dr 500
to interest a/c 500
which entry is correct (1) or (2)
what entry should passed in case interest received from Ram
(1) cash a/c dr 500
To ram 500
or
(2) cash a/c dr 500
to interest a/c 500
which entry is correct (1) or (2)
21 February 2015
Two method.
1)
Ram A/c Dr
To Interest A/c
(Being interest receivable from Ram)
Bank/Cash A/c Dr
To Ram A/c
(Being amount received from Ram Towards interest)
2) Bank/Cash A/c Dr
To Interest A/c
(Being Interest received from Ram)
1)
Ram A/c Dr
To Interest A/c
(Being interest receivable from Ram)
Bank/Cash A/c Dr
To Ram A/c
(Being amount received from Ram Towards interest)
2) Bank/Cash A/c Dr
To Interest A/c
(Being Interest received from Ram)
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16 June 2015
dear sir
but as per golden rule of account for personal a/c
debit ot receiver so i confuse by one again]
plese suggest:-
Ram a/c dr.
To interest
but as per golden rule of account for personal a/c
debit ot receiver so i confuse by one again]
plese suggest:-
Ram a/c dr.
To interest
18 June 2015
Debit the receiver.
1st entry is the due entry being passed.
See second entry when Ram is giving the money, he is being credited. "Credit the Giver".
1st entry is the due entry being passed.
See second entry when Ram is giving the money, he is being credited. "Credit the Giver".
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