Question

Bought goods from shyam on credit

Answer 1

purchase a/c. Dr

To,shyam a/c
(Being goods bought from shyam on credit)

HOPE THIS ANSWER HELPS U ALOT

Answer 2

Purchase of Goods A/C - Dr

To Shyam A/C

(being bought goods on credit)

Explanation:

Here, the firm has bought goods from Shyam on credit. We will debit the Purchase account and credit Shyam account as the Purchase account shows that some transaction has entered into the business.

All the entries will be based on the golden rule of accounting and as per the personal accounts rule we will credit Shyam's account due to the fact that he is the receiver.

Learn more about journal entry  

Sold goods to ram for journal entries  

brainly.in/question/1718750  

Brought furniture from S.R furnisher against cash journal entry  

brainly.in/question/4697057