Question

Purchased goods from ram in cash journal entries

Answer 1

Answer:

here is ur answer mate

Explanation:

Purchases A/C Dr. The reason that purchases account had been debited is because a purchase has been made and something has been added. The reason for crediting the cash account is that cash is going out of the business and according to the basic rule of accounting, anything that goes out is credited.

hope it helps you

Answer 2

Purchases A/c                     -----Dr.                                 XXXX

               To Ram A/c                                                               xxxxx

(Being goods purchased from Ram on credit.)

GIVEN: Purchased goods from ram in cash journal entries

TO FIND Journal Entry for the occurred transaction.

SOLUTION:

As we are given in the question,

The business firm buys the goods of a particular amount to Ram one credit, who eventually becomes their creditor.

In this question,

The golden rule of accounting along with a double entry algorithm will be used and according to it, the purchases account that is a representation for goods will be debited and the Ram who becomes the creditor will be credited.

Therefore,

The Journal entry for Purchased goods from ramming in cash journal entries  :

Purchases A/c                     -----Dr.                                 XXXX

               To Ram A/c                                                               XXXX

(Being goods purchased from Ram on credit.)

#SPJ2