15th Jan: He receives an invoice from Janata Transport Corporation for 5,000 in respect of carriage of computers from Bangalore.
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Explanation:
A receiving of invoice implies that something has been purchased from someone whether it can be Goods or services. The journal entries for both are same. If we purchase something from someone so it would be asset for us whether it is for short term or a long term and it is also expense for us so it would be debit and on the other side,from whom we are purchasing we need to pay that creditor by cash or bank. So here we keep the double
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