Question

Placed an order with Ram for goods of ₹50000 to be received one month later. Give journal.

Answer 1

Answer:

no entry for placing an order coz it's not a accounting transaction.

when u received goods

purchase a/c dr 50,000

to Ram a/c 50,000

Answer 2

Journal entry

There is no transaction for placing an order because it is not an accounting transaction. Journal entry will be passed when you purchase the product.  

Journal entry will be passed when you purchase the product.  

When ram receives goods entry will be  

Purchase A/c Dr  50000

To Ram a/c           50000

Journal entries will consist of the following,

• the account and amount that will be credited

• the account and amount that will be debited

• the appropriate date

• a short description/reference/memo

Learn more about journal entry  

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