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If the purchase was done on cash then,
Purchase A/c Dr
To Cash A/c
If the purchase was done on credit,
Purchases A/c Dr
To Creditor A/c
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What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
How do you record journal entry for a purchase return?
debit cash / bank / accounts payablecredit purchase return
What is the journal entry to record a USD purchase?
Debit USD purchasedCredit cash /bank
How do you record journal entry for purchase of treasury stock?
debit treasury stockcredit bank / cash
What is The journal entry to record the purchase of inventory included a debit to?
[Debit] Purchases [Credit] Cash / bank / accounts payable
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
How do you record journal entry for a purchase return?
debit cash / bank / accounts payablecredit purchase return
How do you record a journal entry for purchase of leads?
Debit leads purchasesCredit cash / bank
What is the journal entry to record a USD purchase?
Debit USD purchasedCredit cash /bank
How do you record journal entry for purchase of treasury stock?
debit treasury stockcredit bank / cash
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
What is the purpose of journal entry?
A journal records what you're findings are
You record the debit entry for transaction a 5 1 in the journal as?
You record he credit entry for transaction (a) 5/1 in the journal as
What is The journal entry to record the purchase of inventory included a debit to?
[Debit] Purchases [Credit] Cash / bank / accounts payable
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
What is the accounting journal entry to record stamp duty and fees imposed on the purchase of land?
Dr Land & Property Cr Bank
Why do you need to re class a journal entry?
if journal entry is misclassified to some other account then it is required to re-classify the journal entry for correct impact or record purposes.
