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Mr. A purchased a car worth of rupees 2,00,000 on cash than
what would be the entry
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Answer Posted / jaiky jain
Purchase a/c..... Dr
To Cash a/c
(Being car purchase)
If the car is purchase as an stock in trade Item, then the
above entry should be passed.
If it is an asset then
car a/c.... Dr
To cash a/c
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