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Pass Journal Entry for the following
Mr.A is running Furniture Business. He bought 10 chairs at
Rs.1000 each. He used one chair for his personal use.

Answer Posted / chandu

purchase a/c dr 9000
to cash 9000

being purchasing goods
according to business entity concept owner personal transactions should not be recorded in the books of accounts.

Is This Answer Correct ?    3 Yes 3 No



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