Correct Answer: A journal entry is recorded accourding to the rules of debit and creditfor example goods sold for Rs 50000 for cash ----to record this -- identify the accounts involved-- iegoods A/cand Cash A/cgoods is a real account and cash is also a real accountdebit and credit rule for Real accounts is DEBIT WHAT COMES IN CREDIT WHAT GOES OUT according to this--cash is coming to the organisation and goods is leaving from the organisation--Entry for this is Cash A/c Dr 50000 to Goods A/c or Sales A/c 50000 ( For Cash Sales )
