goods purchases of Rs.1200 was recorded in the sales book
and the Vendor's account was credited by Rs. 1200
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Answer Posted / suman.g
Wrong entry passed
Purchases A/c Dr. 2400
To Vendor's A/c 1200
To Sales A/c 1200
Correct Entry which should have been passed
Purchases A/c Dr. 1200
To Vendor's A/c 1200
Rectification entry
Sales A/c Dr. 1200
To Purchases A/c 1200
| Is This Answer Correct ? | 1 Yes | 3 No |
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