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What is the JV of an Item wise Purchase Entry?

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(Querist)
26 November 2023 When a purchase is recorded in software, a JV is posted to the respective ledgers. Debiting the inventory & VAT, Crediting the supplier. Should i need to debit purchase account also?. If so, what will be the journal entry?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 November 2023 You need to debit purchase instead of inventory.
Inventory you keep it separately adjusting sale and purchase.
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