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Journal for Purchase and Sale

Goods worth R...

Question

Goods worth Rs 1000 given on charity should be credited to which account in journal ?

A

Charity Account

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B

Donation Account

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C

Purchases Account

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D

Sales Account

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Solution

The correct option is C
Purchases Account

Goods worth Rs 1000 given on charity should be credited to Purchases Account as it will reduce the stock of goods.

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