Purchase goods rahul for cash journal entry
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The journal entry for purchasing goods from Rahul for cash is shown below:
Explanation:
Purchase A/c..............Dr XXXX
To Cash A/c...............Cr XXXX
As the goods are bought so increase in assets will be debited, therefore, the purchase account is debited and it is bought against the cash so cash is decreasing and any decrease in cash will be credited. Therefore, cash account is credited.
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