journal entry (Cash purchased )
krishan40:
cash puchased
??
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Simply a purchase journal can be defined as the main entry book which is used to record credit transactions (credit purchases) for resalable purposes. The Source document which is used as an evidence in recording transactions into purchase journal is Purchase invoicE
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The debits and credits are shown in the following journal entry: Since cash was paidout, the asset account Cash is credited and another account needs to be debited. Because the rent payment will be used up in the current period (the month of June) it is considered to be an expense, and Rent Expense is debited.
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Purchase a/c dr
To cash
Ths hlp fr u
To cash
Ths hlp fr u
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