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Received Invoice from Tvs Co. against purchase of 15 pcs of
Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?
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Answer Posted / gourab mistri
the journal is
Dr/Cr Ledger Amount
Credit Tvs Co. 11,700/-
Debit VAT @ 4% 450/-
Debit Inventories/ Purchase 11,250/-
Narration: Being the amount credited to Tvs Co. for 15 pcs
of Mouse @750/- with VAT@4%
| Is This Answer Correct ? | 7 Yes | 3 No |
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