Goods sold on credit -Analysis of Transaction -11
Goods costing ₹25,000 sold to Rajani Enterprises for ₹35,000.
Analysis of transaction: This transaction
- increases sales (Revenue) and
- increases assets (Rajani Enterprises as debtors).
- Increases in assets are debited and
- increases in revenue are credited.
JournalCredit to Sales account and debit to Rajani Enterprises account.
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