All Type of Journal Entries

Journal Entries : Discount : Journal Entries : Discount Bought goods from mr Kris worth rs 7000 less 10% trade discount. Sold goods to mr R worth rs 3000 at 5% trade discount and 5% cash discount. Cash recd. From mr R rs. 2500 in settlement of his account of 2850 Paid to Mr K rs 6000 and discount recd. Rs 300

Journal entries : payment of personal exp.Of Proprietor : Journal entries : payment of personal exp.Of Proprietor Life insurance premium College or school fees of children House rent Grocer’s bill Income tax

Purchase of animals : Purchase of animals Purchase of animals : Livestock Account

Purchase and sales of investment : Purchase and sales of investment Add brokerage when purchase Deduct brokerage when sale.

Bad debt and recovery of bad debt : Bad debt and recovery of bad debt bad debt : debited Recovery of bad debt : credited

Loss of goods by fire : Loss of goods by fire No loss : insurance claim a/c debited Loss : loss by fire a/c debited

Exp. incurred on customer a/c : Exp. incurred on customer a/c Carriage Freight

Interest on loan : Interest on loan Interest is exp. And added to loan amount