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If I purchased a machinary of Rs. 50,000 and Received a
free printer of Rs. 3000 . What its Accounting entry?
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Answer Posted / sankeerthana
He has to pay whole agreed price to the supplier there will
not be any discount in payment. As a gift he recd printer
along with machinery then the entry will be
Machinery a/c Dr 50000
Printer a/c Dr 3000
To Other income 3000
To cash a/c 50000
(being paid for machinery and the receipt of printer was
taken as other income and will be taken in the asset and
profit and loss a/c)
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