purchased a laptop for Rs.50000 and received one calculator
costing Rs.1000 for free. Both laptop and calculator
(stationery in nature) are meant for office use.What will
be the journal entry in the books of both the parties?
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Answer Posted / mahesh
Computer (fixed asset) 50000 dr.
to Seller a/c. 50000 Cr.
acually purchasing of calculator comes under printing &
stationary so expense can't be booked.No need to take entry
for calculator as it is free & having no big value.
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