What will be the journal entry for goods used in making furniture ( sale price 5000 and cost price 4000)
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Furniture A/c Dr. 4,000
To Purchases A/c 4,000
(being own stock used for making furniture costing 4,000)
Many got confused to write 5000 or 4000 but here, It is 4000 as our own stock has been used.
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