Pass journal entries
Purchased goods from mr x on credit 1000
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Answer / guest
PURCHASE A/C DR 1000
TO Mr x a/c 1000
(being goods purchased from mr x on cerdit)
| Is This Answer Correct ? | 176 Yes | 8 No |
Answer / s. vijaya kumar
Parchase of Goods A/c Dr. 1000
To Mr.X A/c 1000
( Being Goods purchased from Mr. X on credit Rs.1000)
| Is This Answer Correct ? | 42 Yes | 4 No |
Answer / anusha
Purchases are treated as expenses.
Expenses - nominal account -debit all expenses
so purchases account is debit.
Mr.X is an creditor because company owes to mr.x
mr.x - oersonal account- credit the benifit giver
so mr.x account is credit
| Is This Answer Correct ? | 19 Yes | 3 No |
Answer / dayakarreddy
purchase a/c Dr 1000
To Mr X a/c 1000
(being Goods Purchasing from Mr x on credit)
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / gowthamthiru
Purchase A/c "Dr" Rs.1000
To Mr. x A/c Rs. 1000
| Is This Answer Correct ? | 9 Yes | 1 No |
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Company A has purchased goods worth Rs. 25000 from company B and made the cash payment of Rs 5000 and remaining will be payable with in 30 days. Assume that there is a late payment charge @ 2% on remaining amount as the invoice was received after due date from company B. Pass the journal entry in the books of company A for all the above transactions.
Audit 
