purchased goods from Alia brothers for rupees 100000 and 50000 and paid one fifth amount by cheque
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Answer:
Journal entry
Purchases A/c Dr 1,50,000
To Alia Brothers A/c 1,20,000
To Bank A/c 30,000
(being purchases goods on credit and 1\5th of amount paid as cheque )
Explanation:
Debit the expenses therefore debit the purchases.
Alia brothers credited because amount to be received from creditor
Bank a/c is credited as payment to creditor
Answered by
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Your journal entry will be:
purchase a/c. Dr. 150000
to Aliya brothers a/c. 120000
to bank a/c. 3000 (being goods purchased from Alia brother's brothers and paid cash and cheque)
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