received cash from the sale of goods at an auction what will it's journal entry
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Answer:
The general is entry is of GST, ( goods service tax)
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Assuming it's an invoic for goods purchase (P&L A/c) A/c Cr Ram (Account payable but a lot of time a purchase as be made and the person did not notified anyone within the company so upon receipt of of invoice the same journal entry would be made but at a later date when an AP check Run is complete then Bihar account payable cr cash
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