machinery purchased for cash
Answers
Answered by
26
When fixed assets are purchased for cash, assets in form of land, building, machinery, furniture, computer and so on come into business and asset in form of cash goes out of the business. ... Incase asset purchased in credit, assets account will be debited and supplier's account (instead of cash) is credited.
Similar questions
Psychology,
1 month ago
Math,
1 month ago
Math,
1 month ago
English,
3 months ago
English,
3 months ago
Social Sciences,
10 months ago
Social Sciences,
10 months ago
Social Sciences,
10 months ago