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I took printer from stock, previously I purchased this printer
for £60 plus Vat.
What entries do I need to put through the books?
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Answer Posted / r@vi harjai
if the stock of business used for personal purpose
then the following entrty has been made>>>>
Drawing A\c Dr
To Purchase A\c
(Being goods used for the personal purpose)
otherwise if the stock (printer) used for the business
purpose then alternative entry should be made>>>
Printer (Assets) A\c Dr
To Purchase A\c
(Being goods converted into Assets)
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