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What is the journal entry purchased goods from siva?

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Anonymous

∙ 8y ago
Updated: 12/8/2025

The journal entry for purchasing goods from Siva would typically be recorded as follows:

Debit: Inventory (or Purchases) account for the total amount of goods purchased
Credit: Accounts Payable (or Cash) account for the total amount owed to Siva

This entry reflects an increase in assets (inventory) and a corresponding liability (amount owed to Siva).

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∙ 3mo ago
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