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what is the journal entry?
goods purchased by ram on credit for 1000 which includes
vat rs.100 in it
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Answer Posted / annapurna
all purchases must be debited hence debited
Vat tax which is added to purchases is an input tax All
input taxes will be debited.Any payable is a liability and
will be always on credit side only.Here Ram purchased from
somebody so somebody(supplier) has to be credited
| Is This Answer Correct ? | 9 Yes | 5 No |
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