Question

purchase machinery and paid by cheque journal entry

Answer 1

Answer: machinery account Dr.

To bank account

(Purchase machinery and paid for cheque )

Explanation:

Answer 2

Journal Entries in the books of Purchaser

Machinery A/C DR

             To  Bank A/C

( Being machinery purchased )

NOTE - As machinery is our asset we are purchasing it so it is increasing so it will be debited and bank is alos our asset and we are paying it for purchasing machinery so it is decreasing and we will credit bank account .

Journal Entries in the books of seller

Bank A/C DR

               To Sales A/C

( Being sales done )

NOTE- As machinery is our asset and we are seling it so it is decreasing and it will be credited and bank is increasing so it will be debited.