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What is the journal entry for “bought good for cash from m/s rupa traders”

User Tklodd
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Answer:

see below

Step-by-step explanation:

The action of buying goods from r/s rupa increase inventory/purchases ( asset account) and reduces cash( asset) in the business.

An increase in assets account is debited, while a decrease is credited. The journal entry will be

Purchases a/c Dr

Cash a/c Cr

User Pitchmatt
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