The basic principle of journal entry is "Debit what comes in, and Credit what goes out".
In specific, increase in asset should be debited. And decrease in asset should be credited.
The basic rule of accounting is stated bellow
If these are Decreasing then it is just opposite of the above
So journal entry is
Journal
Date | particulars | debit($) | credit($) |
Nov.2 | office supplies A/C dr | 4100 | |
To Cash A/C | 405 | ||
To Bank A/C | 3695 | ||
( Office supplies asset worth $4100 purchased and $405 paid In cash and remaining $3695 paid through bank)
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