Question

goods worth rs 7000 given as a charity would be credited to?​

Answer 1

Answer:

Journal entry for goods worth rs 500 given as charity will be ;

Charity a/c Dr.500

to purchase a/c .500

(being good given to charity )

reason for debit and credit ;

charity is an expensive for business so ,it will be Debited

and is going to be decreased so ,it will be Debited

and stock is because of purchase .

Hope it's help you .☺☺

Answer 2

Answer:

Journal entry for goods worth rs 500 given as charity will be ;

Charity a/c Dr.500

to purchase a/c .500

(being good given to charity )

reason for debit and credit ;

charity is an expensive for business so ,it will be Debited

and is going to be decreased so ,it will be Debited

and stock is because of purchase .

Hope it's help you .☺☺