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 / surya
At the time of Purchase of Machinery
Machinery A/c Dr 50,000
To Vendor/Cash A/c 50,000
For getting Gift
Printer A/c Dr 3000
To Free Samples Received 3,000
Free Samples transferred to P&L Account At the year end.
Free Samples Received A/c Dr 3,000
to P&L A/c 3,000
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