Purchased Furniture from Mr. Govind on credit Rs.30,000 journal entry
Purchased Furniture from Mr. Govind on credit Rs.30,000 journal entry
In the books of Mr. Anand.
DATE | PARTICULARS | L/F | DEBIT | CREDIT |
10 | Furniture A/c Dr. To Govind A/c [Being Purchase Furniture from Govind on credit] |
| 30,000 |
30,000 |
Purchased Furniture from Mr. Govind on credit Rs.30,000:
Furniture is purchased from Govind on credit. Furniture is Asset for the business therefore shown on debit side [Refer Real Account Formula] and proprietor is not paying cash immediately to Govind he will pay in future therefore Govind account is credited [refer real account Formula]
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