Question

Pass the journal entry of purchase machinery from new machine house for RS 50,000 and paid it by means of a bank d r a f t purchase from Bank bank charges 500

Answer 1

Machinery a/c dr.  5000₹

Bank charges a/c dr.  500₹

       To bank a/c.       5500₹

Answer 2

machinery A/c                        Dr.                          50000

bank charges                         Dr.                           500  

                To bank A/c                                                                       50500

(being machinery purchased )