Question

accounting equation for the following transctons purchase goods from Saddam rs 25,000
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Answer 1

Answer:

purchase A/C dr             rs 25000

  to saddam A/c cr                           rs25000

Explanation:

saddam account will be credited as this is a credit transaction

according to traditional approach

debit : what comes in, therefore goods purchased are debited

credit: the giver , therefore saddam is credited