purchased a machinery for rs. 1,00,000 and the payment was made by issuing a cheque from proprietor's saving bank account.
what is the journal entry for this transaction?
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journal entry
Replies (4)
Machinery debit
Prop capital ac credit
Is proprietor's SB account in his business BS?
Machinery A/c Dr.
to Bank A/c
to Bank A/c
Machinery a/c..... Dr. 100000
To Bank a/c. 100000
To Bank a/c. 100000
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