In case of purchase of goods for resale, which of the following is correct?

Stock account is credited

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Purchases account is debited

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Bank account is debited

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Expense account is debited

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Solution

The correct option is B
Purchases account is debited

In case of purchase of goods for resale, purchase account is debited.

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In case of purchase of goods for resale, which of the following is correct?

The correct option is B Purchases account is debited In case of purchase of goods for resale, purchase account is debited.

The correct option is B
Purchases account is debited

In case of purchase of goods for resale, purchase account is debited.