What is the journal entry of purchase machinery from mena and co?
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Answer:
Machinery A/c Dr
To Mena & Co
Explanation:
Machinery is an asset and it was included in Real Account and the rule for journalising is "Debit what comes in and credit what goes out" for real account. As it is not mentioned in the question that it purchased in cash or credit but only Company's name is given so it was assumed to be purchased on credit.
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