Basic Accounting Entries for Interview With Examples

Understanding the basic journal entries is essential for anyone preparing for accounting job interview. Below are common entries with examples and simple explanations.

1. Capital Introduced in the Business

DateAccount TitleDebit ($)Credit ($)
Jan 1Cash/Bank A/c Dr20,000
To Capital20,000
record the capital introduced by the owner.

2. Purchase of Inventory (on Credit)

DateAccount TitleDebit ($)Credit ($)
Jan 5Inventory/Purchase A/c Dr5,000
To Accounts Payable5,000
record purchase of goods on credit.

3. Cash Sales Made

DateAccount TitleDebit ($)Credit ($)
Jan 10Cash A/c Dr3,000
To Sales Revenue3,000
record cash sales to a customer.

4. Credit Sales Made to Customer

DateAccount TitleDebit ($)Credit ($)
Jan 12Accounts Receivable A/c Dr4,000
To Sales Revenue4,000
record credit sales to a customer.

5. Payment of Expenses (e.g. Rent)

DateAccount TitleDebit ($)Credit ($)
Jan 15Rent Expense A/c Dr800
To Cash800
record rent paid in cash.

6. Receiving Cash from Debtor

DateAccount TitleDebit ($)Credit ($)
Jan 18Cash A/c Dr4,000
To Accounts Receivable4,000
record collection from customer.

8. Salary Paid

DateAccount TitleDebit ($)Credit ($)
Jan 25Salaries Expense A/c Dr2,000
To Bank2,000
record salary payment through bank.

Tips for Interviews:

  • Always know which accounts are debited and credited.
  • Be ready to explain the logic behind each entry.
  • Practice basic entries + adjustments (e.g., prepaid expenses, depreciation).

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