Journal entry for goods given as free gift
This query is : Resolved
05 March 2014
what will be the accounting treatment for goods held for sale are given as gift,as no stock is maintained in books of accounts?wether to credit purchases agains expense head?
05 March 2014
Ya Credit it against Purchases.:-
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To Purchases
(Being goods distributed as free samples or goods distributed as free gifts)
Advertisement Dr
To Purchases
(Being goods distributed as free samples or goods distributed as free gifts)
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