compound Journal City Thus, in a combined Journal Entry (i) Several accounts are debited and one account is credited. One account is debited and several accounts are credited. (111) More than one account is debited and more than one account is credited Examplel: Simple entry and combined entry transaction : Started business with Cash 150,000 Goods, 330,000 and Laptop 50,000 Simple entry Combined entry A) Cash A/C Dr 1,50,000 Cash Alc Dr 1,50,000 To Capital A/C 150,000 Stock of goods A/c Dr 30.000 Dr Laptop Alc B) Stock of goods A/c Dr 30,000 50.000 To Capital A/C 30,000 To Capital A/C 2.30.000 (Being started business with cash, goods and C) Laptop Alc Dr 50.000 laptop) To Capital Alc 50.000 38 In the above three simple entries capital A/c is commonly credited Example 2: Transaction Sold goods worth 330,000 to Kishor who paid us 310,000 on account Simple entry Combined entry A) Kishor's Alc Dr 30,000 Cash Alc Dr 10,000 To Sales Alc 30,000 Kishor's Alc Dr 20,000 B) Cash Ale Dr 10,000 To Sales Ale 30.000 To Kishor A/C 10.000 (Being goods sold to Kishor and part paymnet received) In the above two simple entries Kishor's A/e is debited by 30,000 and subsequently credited by 10,000. The net effect is that Kishor's A/c is debited by 320,000 which is shown in a combined entry Example 2: Paid Wages 5000 and Salaries 2000 = Wages Ale DI 5.000 Salaries AVC DI 2.000 To Cash Alc 7,000 Example 3: Received Commissioni 700 and Dividend 500 = Cash A/c Dr 1,200 To Commission Received A/C 700 To Dividend Received Alc 500 Illustration-2 Journalise the following transactions in the books of Sankalp General Stores 2019 July 1 Started business with Cash 1,00,000, Stock of Goods worth 50,000. and Computer 50,000. 4 Purchased goods from Karina on credit 10.000 at 5% trade discount 10 Sold goods to Priyanka 20,000 at 10% trade discount 13 Paid into State Bank of India * 50.000 15 Goods worth 2,000 lost by theft 18 Paid for Rent 4,000 20 Received Cash of 317.500 from Priyanka in full settlement of her account. 25 Paid for Stationery purchased * 8,000