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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?

Question Posted / vamshidharreddy

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)

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