Question

Purchased goods for â¹20000 from x and supplied to y for â¹26000

Answer 1

purchase a/c dr. 20,000
To cash a/c........................ 20,000
( being purchase goods from x)

Cash a/c. dr 26000
To sales a/c............. 26,000

( being goods sold to y)


i hope you like it

Answer 2

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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Journal entry

1)Purchases A/c Dr 20000

To X's A/c 20000

(being purchased goods from X)

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2) Y's A/c Dr 26000

To sales A/c 26000

(being sales made to Y's A/c )

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• I assumed everything as purchased and sales on credit .