Purchased goods from ramesh
Rs.20,000 less trade discount at 20 percent plus VAT @ 10 percent.
Answers
Answered by
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Hi friend,
Your question related to VAT
It will be recorded in Purchase Day book .
Journal entry :-
Purchase A/c----------- Dr. 16,000
Input VAT A/c ---------- Dr. 1,600
To Ramesh A/c 17,600
( Being , purchased goods on @ 20 % trade discount and @ 10 % VAT )
Your question related to VAT
It will be recorded in Purchase Day book .
Journal entry :-
Purchase A/c----------- Dr. 16,000
Input VAT A/c ---------- Dr. 1,600
To Ramesh A/c 17,600
( Being , purchased goods on @ 20 % trade discount and @ 10 % VAT )
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