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Books of Original Entry – Journal — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountBooks of Original Entry – Journal3 Marks
Question
What are compound journal entries? Give an example.
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Answer

Compound Journal Entry: Compound Journal entry is a Journal entry in which more than two accounts are affected, i.e., one or more accounts are debited and/or one or more accounts are credited or vice versa. For example, a sale of 5,000 is made to Satish. It is discharged by Satish by paying 2,000 in cash, balance to be paid later. This transaction of sale affects three accounts as follows:Images

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