Question

Journal entry for the following:
1)Goods purchased from M/s Sumit Traders for Rs. 55,000.
2)Goods costing Rs. 25,000 sold to Rajani Enterprises for Rs. 35,000.

Answer 1

1) purchase a/c Dr 55000
to sumit traders. 55000
2)rajni enterprise a/c Dr. 35000
to sales a/c 35000