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Question
Goods worth Rs.45,000 purchased from Lalit on credit will be recorded in_______.
Goods worth Rs.45,000 purchased from Lalit on credit will be recorded in_______.
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Solution
The correct option is B Purchase journal
A purchase journal is a subsidiary-level journal in which information is stored about purchasing transactions. Any transaction entered into the purchases journal involves a credit to the accounts payable account and debit to the expense or asset account to which a purchase relates.
A purchase journal is a subsidiary-level journal in which information is stored about purchasing transactions.
Any transaction entered into the purchases journal involves a credit to the accounts payable account and debit to the expense or asset account to which a purchase relates.
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