Question

Purchased goods for cash rupees 30,000 and credit rupees 20,000

Answer 1

Answer:

10000 needed to hive

Explanation:

if for 30000 rupees a object is bought and 20000 rs is credited then the balance is 10000 rs

Answer 2

The entry is given below.

Explanation:

Purchase goods for cash entry will be :

 Purchase A/c Dr. 30000

         To Cash A/c      30000

Purchase goods for Credit entry will be:

Purchase A/c Dr. 20000

    To Creditor A/c  2000

The difference in both is on first entry we credit cash as it is purchase through cash and on second we credit the creditor account as it was credit purchase.

We can also merge both the entries

Purchase A/c Dr.  50000

      To Cash A/c    30000

   To Creditor A/c   20000