Question

Journal entry of transaction of buying horse for 10000 and a cart for 4000 by cash?
Plz reply fast​

Answer 1

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↪️Live stock Ac Dr......10000/-

Carriage Ac Dr........4000/-

To, Cash Ac Cr...........14000/-

[ Being buying horse and paid carriage in cash ]

"Explanation" :-

In The Given Journal Entry,

↪️ Horse buying of ₹10000 therefore livestock Ac debited.

↪️Carriage of ₹4000 paid for the transportation of horse.Therefore Carriage Ac also Debited.

↪️ Amount of the both transactions ₹10000 & ₹ 4000 paid by the cash ; Therefore Cash Ac credited.

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