Journal entry for Telephone purchased in credit?
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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 |
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 |
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 |
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