Journal entry
JV-0001
Postings
| Code | Account | Debit | Credit |
|---|---|---|---|
| 1010 | ICICI Current Account | 18,42,500.00 | — |
| 1020 | HDFC Current Account | 3,10,000.00 | — |
| 1000 | Cash on Hand | 35,000.00 | — |
| 1500 | Equipment | 6,80,000.00 | — |
| 3000 | Owner's Capital | — | 28,67,500.00 |
| Totals | 28,67,500.00 | 28,67,500.00 | |
Posted as JV-0001
Balanced
Debit
1010
ICICI Current Account
18,42,500.00
1020
HDFC Current Account
3,10,000.00
1000
Cash on Hand
35,000.00
1500
Equipment
6,80,000.00
Total debits
28,67,500.00
Credit
3000
Owner's Capital
28,67,500.00
Total credits
28,67,500.00