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Question
Goods costing Rs.10,000 given s charity should be credited to ________________.
Goods costing Rs.10,000 given s charity should be credited to ________________.
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Solution
The correct option is A Purchase Account
The Journal Entry would be
Charity A/c Dr. 10,000 To Purchases a/c 10,000
Therefore, Charity will be posted to the credit side of purchase a/c
The Journal Entry would be
Charity A/c Dr. 10,000
To Purchases a/c 10,000
Therefore, Charity will be posted to the credit side of purchase a/c
Therefore, Charity will be posted to the credit side of purchase a/c
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