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purchases for rs100. vat @ 10% and cash discount rs 5 what
is the entry passed
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Answer Posted / anilyadav
Purchase A/c Dr 100
Input Vat A/c Dr 10
To Discount Recived Cr 5
To Party A/c Cr 95
(being amount for purcase)
Party A/c Dr 95
to cash/Bank cr 95
(being amount for cash paid)
| Is This Answer Correct ? | 6 Yes | 11 No |
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