Question

Purchased goods from hema on credit journal entry

Answer 1

Given "Goods Purchased from hema on credit"

This transaction affects two accounts Purchases a/c , hema a/c ... Where Purchases a/c is a nominal account (all expenses incomes gains losses come under nominal account) and hema a/c is a personal account


The Three golden rules of accounting are

Personal account - Debit the receiver, credit the giver

Real account - Debit What comes in, credit what goes out

Nominal account - Debit All expenses and losses, credit all incomes and Gains

So Per the above rules..since hema is the giver should be credited and Purchases is an expense should be debited..


So the Journal Entry will be

Purchases a/c Dr xxxx

To hema a/c. xxxx

(Being Goods Purchased)

Answer 2

Purchases A/c Dr 
        To hema A/c 
(being purchased goods for credit )

Hope its useful.!!