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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 / priya
Purchases a/c dr
To cash/bank a/c
Drawings a/c dr
To purchases a/c
here goods are taken for personal use so purchases a/c has
to credited ,If cash is taken for personal use cash has to
be credited
| Is This Answer Correct ? | 2 Yes | 5 No |
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