COM compound Journal Entry Thus, in a combined Journal Entry (i) Several accounts are debited and one account is credited. (ii) One account is debited and several accounts are credited. (iii) 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, 30,000 and Laptop 350,000 Simple entry Combined entry A) Cash Alc Dr 1,50.000 Cash Alc Dr 1,50.000 To Capital Alc 150,000 Stock of goods A/c Dr 30,000 Dr Laptop Ac 50.000 B) Stock of goods A/c Dr 30,000 To Capital Alc 30,000 To Capital Alc 2.30.000 (Being started business with cash, goods and 38 C) Laptop A/C Dr 50.000 laptop) To Capital Alc 50.000 In the above three simple entries capital Alc is commonly credited Example 2: Transaction Sold goods worth 330,000 to Kishor who paid us 10,000 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 Alc Dr 10.000 To Sales Alc 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 Alc 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 35000 and Salaries 2000 Wages Alc Dr 5.000 Salaries Alc Dr 2.000 To Cash A/C 7.000 Example 3: Received Commission 700 and Dividend 500 = Cash A/c Dr 1.200 To Commission Received A/C 700 To Dividend Received Ale 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 17.500 from Priyanka in full settlement of her account 25 Paid for Stationery purchased 3 8.000