Question

journal entry for purchased machinery for cash from Avinash
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Answer 1

Answer:

Since Purchase of goods is an expense, so, Purchases A/c would be debited, because according to the Rules of Debit and Credit, an expense A/c is debited . Further , on Payment of Purchases of goods in Cash , results in reduction of Cash, which is an Asset.....

Answer 2

Answer:

Therefore, while recording such transaction, only asset account is debited including expenses, and cash account is credited. For example; machinery purchased for Rs. 90,000 and paid immediately Rs. ... Therefore, in this case, investment account is debited and cash account is credited.

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