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If a company purchase the goods for rs. 100 and intends to
Sell it for 200.
What is the journal entry for this?
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Answer Posted / vamshidharreddy
PURCHASES a/C dr 100
CASH a/C DR 100
TO sALES a/C 200
(PURCHASES OF GOODS FOR 100 PROFIT OR CASH)
| Is This Answer Correct ? | 1 Yes | 0 No |
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