Question

Purchase building journal entries

Answer 1

Answer:

Building account dr

to cash account

Being building purchase

Answer 2

Purchase building

Explanation:

Given:

Purchase of building:

Books of (--- limited)

journal entry

Date    Account Title and explanation    Debit   Credit

          Building                           A\c Dr.            xxx

             To cash \ Bank    A\c                                       xxx

        (Being building purchase from cash or bank)

Explanation: Building is an asset for the company, so it must be debit.

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