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Pass journal entries
Purchased goods from mr x on credit 1000
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Answer Posted / ramidi swapna & ut
when we purchase the meterial from others like(X) on credit
base.we should pass the entry
Purchase A/C...Dr
to X A/C ......Cr
Becoz it will be on credit base..in this on cash basis like
a Purchase(godds or metrial)
to Cash
but in this including vat also,,incurred becoz when we
purchase goods we have to paid with Vat..
Purcgase A/C....dr
VAt A/C..........Dr
To X A/C............Cr
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