Question

Purchased a new machine of 780,000 from Gadore Tools Ltd, Faridabad,
Gopi Chand gave a cheque of 50,000 from his savings account and
balance from firm's account.

give journal entry​

Answer 1

Answer:

if it is proprietorship firm

then

machine dr. 780000

to Gopi bank. 50000

to Gopi firm 730000