journal entry: A mobile of Rs 1500 purchased against exchange of goods of Rs 1000.
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Explanation:
if you mean purchase goods for ₹ 1500 then the journal entry will be
Purchase account dr ₹ 1500
to bank account ₹ 1500
If you mean purchase goods for ₹1500 but there is DISCOUNT OF ₹ 500 . Such discount is nothing but a Trade discount and can not be shown in books so the journal entry will be same as above in the case of no discount.
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