Accountancy, asked by Rishop, 11 months ago

purchased goods for cash 6,200

Answers

Answered by prem515
5
purchase A/C. DR. 6200
TO CASH A/C. 6200
Answered by sujiritha95
3

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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reason for debit and credit

Purchases A/c - real A/c , goods comes into the business , therefore its debited  

Cash A/c - real A/c , money goes out of the company therefore its credited

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Journal entry

Purchases A/c  Dr     6200

          To cash A/c                        6200

(being purchased goods  paid)


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