Pass the journal entries for the following transactions in the Books of Mr S.K.Jain? a) He Sold old furniture for Rs 5000/-

Cash Debit             Rs/-   5000

                Furniture Credit                         Rs/-   5000

Prepaid-Magazine Expenses A/C Dr Bank/cash A/C CR Then on the end of the every month ( may be quarterly) , the the expenses will be booked as Magazine Expenses A/C Dr Prepaid-Magazine Expenses A/C Cr

Answer a) Cash --Debit             Rs/-   5000

                Furniture Credit                         Rs/-   5000

 

b)

Bank  debit

Insurance comission  credit

 

C) rent exenses   -Debit

Bank - Credit

D) Traveling Expenses - Debit

Traveling expenses payable - Credit

 

 

1.  sales account     --------dr           5000

  to furniture acconut ---------cr                      5000

 

2. mr s.k.jain account   -----dr          5000

to insurance commission account  -----cr    5000

 

 3 . rent account ------dr                  

 to bank ----cr

4.travelling expenses account ----dr

to mr. s.k.jain -------cr