Journal Entries

Cash comes in, so cash account is credited. Commission is an item of income, so it will be credited.

This is the first step of accounting process.

Daybook is another name of journal as transactions are entered on daily basis. It is also called as original book of entry.

Discount allowed is discount given to buyer that will be deducted from Account Receivable. A credit sale will increase Accounts Receivable, but the collection of the amount will decrease Accounts Receivable.

Source document is used to make journal entries, and they are evidence of transaction that has taken place.

A compound journal entry in accounting is in which there is more than one debit, more than one credit.

Transactions occurs, then the source documents are reduced to debit and credit in form of journal entry, then posted to ledger and from ledger trial balance is prepared.

As all of the above answers are correct, hence this is the correct answer.

Both sales and X Ltd. accounts are understated by Rs. 900. Entries are required to increase the amount due from X Ltd. and increase sales by crediting the sales account.

Motor vehicle entry needs to be reduced by making credit entry and debit the vehicle maintenance account.

This is the correct answer as journal entries are made throughout the year.

This is error of ommission and transfer needs to be made between both the accounts. This journal entry is required to be transferred so that their is no unauthorized transfer between two accounts.