Purchased machinery for rs 10000 and gave bank draft for the amount
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purchase account dr 10000
to bank account 10000
(Being goods purchased and payment made by bank)
purchase account follows rule of debit all expenses and loss (nominal account )
Bank account follows rule of credit what goes out (real account )
I HOPE IT WILL HELP YOU.
to bank account 10000
(Being goods purchased and payment made by bank)
purchase account follows rule of debit all expenses and loss (nominal account )
Bank account follows rule of credit what goes out (real account )
I HOPE IT WILL HELP YOU.
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