If I purchased a machinary of Rs. 50,000 and Received a
free printer of Rs. 3000 . What its Accounting entry?
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Answer Posted / k. srinivasa rao
for the above we have passed two different type entries
1. plant & machinery a/c. 50,000
Computers a/c. 3,000
T name of the supplier a/c. 53,000
2. Name of the supplier a/c. dr. 53,000
To Discount recd. on purchases 53,000 (Other
income)
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