Multiple choice

The amount for sale of old newspapers is Rs. 500. Which of the following is the correct entry for this transaction?

  1. Dr. cash a/c & Cr. sales a/c.

  2. Dr. sale of old newspapers a/c & Cr. cash a/c.

  3. Dr. cash a/c & Cr. sale of old newspapers a/c.

  4. Dr. sales a/c & Cr. sale of old newspapers a/c.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Sale of old newspapers is an Income so crdited & cash received so cash a/c debited.

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