Business Studies, asked by thahirmalakaran1784, 11 months ago

Purchased goods on credit fro me. Purchased goods on credit from mr. Jitendra

Answers

Answered by AashifKhan
7

Explanation:

here in the two sentences they mentioned that they.have purchased some goods on credit basis.

so, the double entry for credit purchases is

Purchased A/C - Dr

Creditors A/C - Cr

Because in elements of accountings purchased A/C is debit balance and the Creditors A/C is in credit balance

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