A/c
This query is : Resolved
26 September 2015
what journal entry. if a person purchase furniture rs100000 &received mobile value rs 10000 as gift.
26 September 2015
debit purchases 100,000
credit bank/cash/creditor 90,000
credit discount on purchases 10,000
Discount on purchases is indirect income
Mobile will appear in fixed asset register at NIL value
credit bank/cash/creditor 90,000
credit discount on purchases 10,000
Discount on purchases is indirect income
Mobile will appear in fixed asset register at NIL value
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