Question

preparing accounting equation.1)sameer started business with cash 50,000 2)purchased good on credit rupees 1000 3)purchased goods for cash rupees 1000​

Answer 1

Answer:

journal entries

Explanation:

cash a/c .................Dr 50000

to capital a/c. 50000

(being Sameer started business

with cash)

purchase a/c...........Dr 1000

to name of buyer 1000

(Being purchased goods from name

of buyer on credit )

purchase a/c........... Dr 1000

to cash a/c 1000

(Being purchased goods for cash