Question about accounting

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Mr
20 Points Posted on 25 November 2019

Hey guys, do you know how should I make a journal entry if I bought a santa claus statue to our business as our Christmas Decoration?

 

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On 25 November 2019 at 10:17 Report
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"Do the Right Thing...!!!"
20 Points Posted on 25 November 2019
Dr. Festival Expense (under indirect expense)

Cr. Bank / cash


or

Dr. Festival Expense (under indirect expense)
Cr. Supplier name...
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On 25 November 2019 at 14:45
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20 Points Posted on 25 November 2019
Entry will either be by Payment voucher (cash/bank) or Journal voucher ( if it is credit purchase)

Expenses A/c Dr.
To cash/bank
or
To Party Account

Note that it should be incurred for the purpose of business only and it's reasonableness.
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On 25 November 2019 at 15:41

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