Question

goods purchased from ramesh on credit : rice 7 quintal @ rs. 260 per quintal ​

Answer 1

Answer:

How to Record Journal Entry of Purchase Credit? The company pays cash against goods purchased on credit to the vendor. Thus the Accounts payable account debits as the liability gets settled with the corresponding credit to the cash accounts as there is the outflow of the cash to the vendor.

Answer 2

Answer:

1820 rs.

Explanation:

260 rs. ✖ 7 =1820 rs