Journal entry for Telephone purchased in credit?

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Question Posted / sujgatty

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Journal entry for Telephone purchased in credit?..

Answer / gopinath p

if the company engaged in trading with telephones.

1]purchases a/c dr
to suppliers a/c

if company purchased it for office use,

2]asset a/c dr (Telephone)
to suppliers a/c

Is This Answer Correct ?

10 Yes

0 No

Journal entry for Telephone purchased in credit?..

Answer / raghu.v.

Telephone a/c Dr
Supplier a/c Cr

Is This Answer Correct ?

7 Yes

0 No

Journal entry for Telephone purchased in credit?..

Answer / sahil

in this case the expenses (telephone set) a/c will be debited & the party from whom we have purchase the telephone set will be credited

Is This Answer Correct ?

7 Yes

1 No

Journal entry for Telephone purchased in credit?..

Answer / sujith k gatty

Suppose company engaged in trading with telephones then,
]purchases a/c dr
to suppliers or creditors a/c

Suppose Company purchased for office use then
Office equipment A/c dr
to creditors A/c

Is This Answer Correct ?

4 Yes

0 No

Journal entry for Telephone purchased in credit?..

Answer / purna

Telephone a/c
To supplier a/c

Is This Answer Correct ?

1 Yes

0 No

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