'A' manufacture sold goods to 'B' First stage dealer as follows
Purchase 10000
Excise 500
Edu cess 10
S&H cess 5
Then 'B' First Stage dealer sold goods to 'C' a manufacturer for Rs. 17000.
Can anyone please explain the journal entries to be passed in the books of B for purchase and sale.
Purchase Entry:
1. Purchase a/c Dr 10515
To B a/c 10515
Sale Entry:
2. C A/c Dr 17000
To Sales A/c
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
