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pls friends pass journal entry for purchase returns to x
with example?
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Answer Posted / parag
x a/C ..........dR
PURCHASE rETURENS A/C cr
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ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
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