Q. What are compound Journal Entries?
Top Answer
Solution:
When a single transaction affects multiple accounts simultaneously and cannot be recorded using a simple journal entry with just one debit and one credit is known as compound Journal Entries.
Example
Received commission Rs. 5,000 and Interest Rs. 4,000.
Cash A/c……………………. Dr. 9,000 [5000+4000]
To Commission………… 5,000
To Interest………………… 4,000
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