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paid rs 60.000 cash on the purchase of equipment costing
80.000 the remaining amount payable with interest rate of 9%.
what is the journal enry
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Answer Posted / nagarjuna
EQUIPMENT A/C DR RS.80,000
TO CASH A/C RS.60,000
TO PARTY A/C RS.20,000
(BEING PURCHASE OF EQUIPMENT BY PAYING PART PAYMENT AND
BALANCE IS ON CREDIT)
PARTY A/C DR RS.20,000
INTEREST A/C DR RS. 1,800
TO CASH A/CCR RS. 21,800
(BEING OUT STANDING AMOUNT PAID WITH INTEREST@9% PA)
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