WINDOWS SOFTWARE PURCHASES FROM MICROSOFT BY PAYING A
CHEQUE OF RS. 35000/- FROM AXIS BANK LTD. PASS THIS JOURNAL
ENTERY
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Answer Posted / satish
windows software is not an asset. we cannot get money in future. so it should be treated as expenditure. we cannot sale the software to any other company.
the first entry is
software ac...dr
to microsoft ac (sundry creditors)
after payment through bank or cash
microsoft ac...dr
to bank (or) cash ac
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