Question

Purchased land and buliding

Answer 1

what's your question first say that

Answer 2

Answer:

Purchased Land and building is cash transaction

Journal Entry:

Land & Building A/c----------------Dr

                To Cash A/c

(Being land & building purchased)

Explanation:

As per real account rule all asset coming into the entity should be debited and assets going out should be credited.

Land & Building is a asset.