Question

purchashed goods for cash ₹60,000 and on
credit ₹ 30,00​

Answer 1

Answer:

purchase a/c Dr 63000

To cash A/c 60000

To creditor A/c 3000

Answer 2

Disclaimer:

The attached image is the screenshot of the excel file I create my self to prepare the journal; it is not a screenshot from any other website or image of a book.

Answer:

Refer to the attachment.

Note:

You committed a typing error in the question.

Since I'm not sure if the credit amount is Rs. 3,000 or Rs. 30,000, I'm assuming that it's Rs. 30,000. If it's not, kindly change the amount yourself.

Rules of Accounting:

Increase in assets or expenses/losses is debited and decrease in assets and expenses/losses is credited.

Increase in liabilities, income/gains and capital is credited and decrease in them is debited.

Explanation:

Purchases are expenses for the business; so we'll debit the purchases account by Rs. 60,000 + Rs. 30,000 = Rs. 90,000.

Cash is an asset and since it is decreasing, the cash account will be credited by Rs. 60,000.

Also, since goods worth Rs. 30,000 were purchased on credit, our liability has increased. Therefore, we'll credit our creditor's account by Rs. 30,000.

*Usually the creditor's name is given, in this it is not given; so I'm writing Creditor's a/c.