Question

Goods sold to gupta for Rs. 10000 and received a bills receivable for the same amount for 3 months tell me entry in accounting equation

Answer 1

Here profit percentage is not given. Hence I assume that the goods were sold on cost.

Here you reduce stock with 10,000 and increase Bills receivables with 10,000.

Answer 2

Goods sold to Gupta for the amount = Rs 10,000

3 Months receivable bills = Same amount mentioned

Here, Profit Percentage rate is not given. Even though it is mentioned on percentage rate %, it will differ. But not to mention anything. Subsequently I expect that the products were sold on expense.  

Here you decrease “stock” with “10,000” and increment “Bills receivables” with 10,000.