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Pass journal entries
Purchased goods from mr x on credit 1000
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Answer Posted / javid
when ever credit purchase ill come under accounting concept.
purchase a/c debited (b'coz debit what comes in)
Seller name a/c Credited( b'coz credit what goes out)
We have to mation the name of the creditors, b'coz we
purchase in credit, if we purchase through bank or cash, we
can assume cash or bank in credited.(Credit what goes out
cash or bank amt goes out)
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