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If a company purchase the goods for rs. 100 and intends to
Sell it for 200.
What is the journal entry for this?
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Answer Posted / satyaki_raju@yahoo.com
Mr Guest pl name yourself.
Intension may not be materilised.Then how you can pass
journal entry and also pl let me know where did you find
purchase and sale in one transaction.In my total experience
i didnt find so far. Pl be healthy in practice
| Is This Answer Correct ? | 36 Yes | 4 No |
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Lets suppose X sold goods to Y on credit basis and after the due date is over Y could not make the payment due to Y became insolvent, so In X books he will show the uncollectible as Bad debts expense but in Y account under which account Y will show this while journalizing this transaction in his books of accounts?
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