Dear all,
We purchase a machinery from M/s. Sri Ganesh Equipments. In that Bill
Machinery Value 25000
Less: Discount 10% 2500
Sub Total 22500
Add: Vat 13.5% 3038
Grand Total 25538
Accounting Entry-Method
1) Machinery A/c Dr. 25000 2) Machinery A/c Dr. 22500
VAT 13.5% Dr. 3038 Vat 13.5% Dr. 3038
Discount Received Cr. 2500 Sri Ganesh Equipment Cr. 25538
Sri Ganesh Equipment Cr 25538
In the Above methods Which one is the Correct Method to pass the Entry
CAclubindia
