Question

P&M of 6,00,000 was realised at 7,50,000 rupees. The journal entry is-

• A. Bank A/c Dr, 7,50,000, To Realisation A/c, 7,50,000
• B. Realisation A/c, 7,50,000, To Bank A/c Dr, 7,50,000,
• C. Bank A/c Dr, 6,00,000, To Realisation A/c, 6,00,000
• D. Realisation A/c, 6,00,000, To Bank A/c Dr, 6,00,000

Answer 1

The correct option is A

Bank A/c Dr, 7,50,000, To Realisation A/c, 7,50,000

P&M of 6,00,000 was realised at 7,50,000 rupees. Hence, the entry is -

Bank A/c Dr, 7,50,000

To Realisation A/c, 7,50,000