Question

Purchase furniture form ABC trader rs 1000 record Journal entery

Answer 1

Answer:

Furniture A/C Dr 1000

To ABC A/C 1000

Explanation:

There is no cash or bank payment of Furniture

soo the account is credited from ABC tradrs acc.

Answer 2

Journal entry to the following question is given below.

Explanation:

A. If furniture Purchase in Cash    

                             Books of (--- Ltd)

                       Journal entries (as on ---)

Date     Accounts and Explanation             Debit       Credit

             Furniture                        A/c  Dr        1,000

                  To Cash / Bank          A/c                           1,000

(Being furniture Purchase in Cash )

B. If furniture Purchase in Credit    

                             Books of (--- Ltd)

                       Journal entries (as on ---)

Date     Accounts and Explanation             Debit       Credit

             Furniture                        A/c  Dr        1,000

                  To ABC trader          A/c                             1,000

(Being furniture Purchase in Credit from ABC trader )

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