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what is the journal entry?
goods purchased by ram on credit for 1000 which includes
vat rs.100 in it

Answer Posted / venugopalarao tatineni

1)Purchase A/c Dr

Input Vat payable A/C Dr

Ramco ltd A/c Cr

2)CWIP - electrical/Machinery A/C DR
Capital Vat Payable A/C DR
Ram johanyakbar c.A/C Dr

Is This Answer Correct ?    6 Yes 13 No



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