Question

what is the journal entry of bought a hourse.

Answer 1

heyaa,,,,
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¤ journal entry for what is the journal entry of bought a hourse will be;
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live stock a/c Dr
to cash/bank a/c.
(being livestock purchased)
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here;
¤ purchase is an expense for business
so, it will be debited.
¤ and cash is going out so it will be credited.
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hope it helps. ☺☺☺

Answer 2

Journal entry .

Explanation:

                                  Books of (----Limited)

                                      Journal Entry

Date         Account Title and Explanation       Debit   Credit

               Live stock                              A/c Dr.     xxx

                To  Cash/Bank                   A/c                         xxx

                      (Being amount pay to buy a horse)

Note: Cash goes out from the business and horse to come in so, cash account will be credit and livestock account will be debit.

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