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purchased a laptop for Rs.50000 and received one calculator
costing Rs.1000 for free. Both laptop and calculator
(stationery in nature) are meant for office use.What will
be the journal entry in the books of both the parties?
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Answer Posted / nurulla
for buyer
laptop a/c dr 5000
calculator a/c dr 1000
to cash a/c 5000
to discount recevied a/c 1000
(narration: for being of purchasing of fixed assets like
machinery,computer etc it should be debit the particluer
a/c only)
for seller
cash a/c 5000
discount allowed 1000
to sales a/c 6000
| Is This Answer Correct ? | 16 Yes | 5 No |
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