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Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?
Make Journal entry?
Make Journal entry?
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Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journa...
Journal Entry for Selling Goods to Shyam
1. Debit Accounts Receivable (Shyam) - Rs. 95,000
- This entry represents the amount received in cash from Shyam for the goods sold.
2. Credit Sales Revenue - Rs. 95,000
- This entry records the revenue generated from the sale of goods to Shyam.
3. Debit Cost of Goods Sold - Rs. 45,000
- This entry represents the cost of goods sold to Shyam.
4. Credit Inventory - Rs. 45,000
- This entry reduces the inventory account by the cost of goods sold.
5. Explanation:
- Selling goods to Shyam at Rs. 95,000 resulted in revenue of Rs. 95,000. The cost of goods sold was Rs. 45,000, which was debited to the Cost of Goods Sold account. The remaining amount of Rs. 50,000 is recorded as profit in the Sales Revenue account. The cash received from Shyam is debited to the Accounts Receivable account.
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Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry?
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Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry?.
Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sold goods to shyam costing Rs.45000 at Rs.95000 for cash.?Make Journal entry?.
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