Dear Sir, advice your, we had sold the flat of Rs.12 lacs included Fully Furniture to Customer, and than we have buying the furniture from vender. received Amount from Customer 100000/- (Approx Furniture Value) Furniture Buying Cost 80000/- how can pass the entry in books
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Accounting entry
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Assumed the house was unfurnished :-
On sales
Bank ac---Dr. Rs. 12,00,000
to Furniture ac Rs. 100,000
to Building ac Rs. 1100,000
On purchase
Furniture acc Dr. Rs. 80,000
to Bank ac Rs. 80,000
Note ; If you have incurred Loss or make gain pass a seprate entry by debiting loss/ crediting gain against furniture credit debit as the case may be
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