Journal Entries for Transactions

Debit Account Credit Account

S.N Title of the Account
Dr TO
1 Capital Cash Capital
2 opening Stock Trading A/c Opeing Stock
3 Purchases on Credit Purchases Creditor
4 Purchases on Cash Purchases Cash
5 Sales on Credit Debtors Sales
6 Sales on Cash Cash Sales
7 Rreturn Inwards
Sales Returns Accounts Receivable / Debtors
(Sales Returns)
8 Return outwards
Accounts Payable / Creditors Purchases Returns
(Purchase Returns)
9 Expenses Expenses Cash
10 Revenues Cash Revenue
11 Discount received Cash Discount received
12 Discount allowed Discount allowed Cash
13 Bad debts Bad Debts Accounts Receivable / Debtors
14 Commission Received Cash Commission Received
15 Commission allowed Commission allowed Cash
16 Loan Taken Cash Loan from Bank
17 Interest Received Cash Interest Received
18
Interest Paid Interest Paid Cash

19 Insurance Paid Insurance paid Cash

20 Income tax paid Income tax paid Cash
21 ofice Exp… Office exp Cash
22 provision for discount on
P&l A/c Discount on Debtors
debtors
23 Provision for discount on
Discount on Credtors P&L A/c
creditors
24 Debtors/ Accounts Receivables Accounts Receivable / Debtors Sales
25 Creditors / Accounts payables Purchases Accounts Payable / Creditors
26 Intangible Assets Intangible Assets Cash
27 Fixed Assets Fixed Assets Cash
28 Reserves Retained Earnings Reserves
29 Provision for Depreciation Depreciation Provision for depreciation
30 Bills Receivable Bills Receivable receivables
31 Bills Payable Payable Bills payable
32 Depreciation Depreciation Fixed Asset
33 Bank overdraft Cash A/c Bank OD
34 Outstanding Expenses Expense Outstanding exp
35 outstanding Salaries Salaries Outstanding Salaries
36
Prepaid Expenses
Prepaid Expenses Cash

Expense Prepaid Expense

Adjustment Entry

37
Prepaid Insurance Prepaid Insurance Cash

Adjustment Entry Insurance Prepaid Insurance

38 Patents & Trademarks Patents & Trademarks Cash

39
Rent Received in advance Cash Differed Rent

Deferred rent Rent Received

40 Cash Drawings Drawings A/c Cash
41 Goods Drawings Drawings A/c Purchases
42 Amortization Amortization cost Intangible Assets A/c
43 Amortization Patents Amortization cost Patents
44 Land Cash Land
45 Advance Receipts Cash A/c Deferred Revenue
46 Accrued Expense Expense Accrued Expense
47 Accrued income Accrued income Income
48 Deferred Expense Deferred Expense Cash
49 Deferred Income Cash Deferred Income
50 Prepaid Rent Prepaid Rent Cash