Question

Purchase of Goods from Anand Computer on Credit Rs. 12,100/- on 25 day credit period with ref no 548

Answer 1

Answer:

Purchase A/c. Dr. 12,100

To Anand Computer A/c. 12,100

(Being goods purchased on credit from Anand Computer)

Explanation:

Goods purchased on credit. In this case Purchase A/c is Nominal Expenditure Account so that it is debited. And Purchased is made on credit, so there is no any Cash or Bank payment made so that Anand Computer comes here. Anand Computer is Personal Giver Account that's why it is credited.