Purchase of fan and airconditioners

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For cash purchase of fan and air conditioner, debit Fixed Assets and credit Cash. Alternatively, record through vendor account for tracking, then clear payment by debiting vendor and crediting cash.

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2013 may i know the journal entry for purchase of air conditioners and fan against cash

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 August 2013 No journal, since cash purchase you can make direct payment entry

Dr: Fixed asset( fan & Air Conditioner )
Cr: Cash

or make journal with vendor to keep the track for warranty and further services

Dr: Fixed asset( fan & Air Conditioner )
Cr: Purchased vendor

and Make payment entry

Dr: Vendor
Cr:Cash

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