Accountancy, asked by bhavnajain5649, 9 months ago

What is the journal entry for purchased goods on credit?

Answers

Answered by anshul22027
1

Explanation:

As per the modern accounting approach : Debit if there is an increase in assets, expenses or losses and credit if there is decrease in assets, expenses and losses. Credit if there is an increase in liability, income and gains and debit if there is decrease in liability, income and gains.

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