What is journal entry Purchased stock of goods for 3 million paying 50% cash and 50% on credit.
Sold 2/3 of the goods at 2500000 credit.
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(1) Purchase A/c. Dr. 30,00,000
To Cash A/c. 15,00,000
To Vendors's A/c. 15,00,000
(2) Customer's A/c. Dr. 20,00,000
Profit and Loss A/c. Dr. 5,00,000
To Sales A/c. 25,00,000
To Cash A/c. 15,00,000
To Vendors's A/c. 15,00,000
(2) Customer's A/c. Dr. 20,00,000
Profit and Loss A/c. Dr. 5,00,000
To Sales A/c. 25,00,000
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