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What will be the Journal Entry for this?
Purchases goods from vendor worth Rs.20000.VAT included 4%.
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Answer Posted / moneca
purchases a/c dr.19200
input vat a/c dr.800
to cash 20000
| Is This Answer Correct ? | 12 Yes | 9 No |
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purchase of Rs 1000 were rejected and returned,however vendor returned Rs 800 and balance Rs 200 is charged to sundry exp A/c
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