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Pass Journal Entry for the following
Mr.A is running Furniture Business. He bought 10 chairs at
Rs.1000 each. He used one chair for his personal use.
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Answer Posted / gagan kumar
At the time of purchase
Purchase a/c Dr....... 10000
To cash a/c......... 10000
At the time of withdraw a chair for personal use
Drawing a/c Dr... 1000
To purchase a/c... 1000
Because 1 chair is used so it will be deduct in the purchase.
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