Question

Journal entries for purchase furniture

Answer 1

Answer: Furniture A/c Dr

To Cash A/c

Explanation: Furniture is an asset and hence falls in the category of "Real account" and according to the Golden Rules of accounting, for real account, Dr what comes in and Credit what goes out. So, as the furniture comes in, it's Dr and as Cash goes out of the business, it's credited.

Answer 2

Journal entries

Explanation:

                           Books of (----Limited)

                                Journal entry

Date           Account Title and Explanation       Debit    Credit

               Furniture              A\c         Dr.                xxx

               To Cash / Bank     A\c                                           xxx

                     (Being furniture purchase from cash or bank)

Note: Furniture purchase is an asset, so furniture ac must be debit.

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