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What is Compound Journal Entry? Give an example. |
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Answer» SOLUTION :Compound Journal ENTRY is the entry in which more than one ACCOUNT is debited or credited. For example, following is a compound entry. `{:(,,Rs,Rs),("Stationery A/c",...DR.,"2,500",),("Input CGST A/c",...Dr.,150,),("Input SGST A/c",...Dr.,150,),("""To Cash A/c",,,"2,800"),("(Being the purchase of stationery,paid CGST and SGST @ 6% each)",,,):}` |
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