journ entries purchased goods for rs.1,500
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Dr. Cr.
Purchase A/C___________Dr. 1500
To cash A/C. 1500
(Being goods purchased for cash)
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The answer to the following question is below.
Explanation:
Given:
Goods = 1,500
Journal Entry
In the Books of (-----Ltd)
Date Particular Debit Credit
Purchase a/c Dr. 1,500
To cash a/c 1,500
( Being goods purchased for cash )
In this situation Goods come into business and cash goes out from the business.
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