What will be the Journal Entry for this?
Purchases goods from vendor worth Rs.20000.VAT included 4%.
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Answer Posted / anchit saxena
hello viewers, i m sorry to say actually i was also posted
wrong entry for this question due to confusion bt now i
rectify to this entry-
PURCHASE A/C DR. 20,000
INPUT VAT 4% A/C DR. 800
TO CASH A/C 20,800
BEING AMOUNT PAID TO THE VENDOR WITH 4% VAT FOR PURCHASED
GOODS.
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