Accountancy, asked by tishamrig, 8 months ago

what is the journal entry when we purchase goods for cash but pay them more purchase consideration

Answers

Answered by Anonymous

20

Answer:

Since Purchase of goods is an expense, so, Purchases A/c would be debited, because according to the Rules of Debit and Credit, an expense A/c is debited . Further , on Payment of Purchases of goods in Cash , results in reduction of Cash, which is an Asset.

Answered by Anonymous

2

Answer:

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