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We purchase goods worth rs. 25000 from shyam co. in credit.
We paid him 20000 and rest we refuse to pay. What is the
journal entry for it. This is not discount received.
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Answer Posted / deepthi
for purchase
Purchases A/c dr 25000
to shyam A/c 25000
for payment
shyam a/c dr 25000
to cash A/c 20000
to bad debt A/c 5000
| Is This Answer Correct ? | 3 Yes | 12 No |
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