purchased boards chocks dusters rs 18000 what will be the journal entry
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Since Purchase of goods is an expense, so, Purchases A/c would be debited, because according to the Rules of Debit and Credit, an expense A/c is debited . Upon payment of goods purchased in Cash, cash balance reduces, therefore the asset account is credited according to the Rules of Debit and Credit.
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Dr. Purchase a/c
To cash a/c
To cash a/c
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