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Received Invoice from Tvs Co. against purchase of 15 pcs of
Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?
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Answer Posted / dharmendra
Purchase Dr. Rs. 11250.00 (i.e., 750x15)
Input VAT Dr. Rs. 562.50 (i.e., 5% on 11250/-)
TVS Co. Cr. Rs. 11812.50 (i.e., 11250+562.50)
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