What is the entry passed when goods are bought on credit?

Creditors A/c Dr

To Purchase A/c

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Purchase A/c Dr

To Cash A/c

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Purchase A/c Dr

To Creditors A/c

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None of these

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Solution

The correct option is C

Purchase A/c Dr

To Creditors A/c

The correct entry is

Purchase A/c Dr

To Creditors A/c

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Similar questions

On scrutiny of the books of account, accountant found that, purchase return of Rs 1000 was omitted to be entered in the books of a/c. What shall be the rectifying entry for the same error.

Q. Journal entry for transfer of Purchase return is -
Purchase return A/c Dr.
To Trading A/c

Q. Journal entry for transfer of Purchases is -
Trading A/c Dr.
To Purchases A/c

Mention the subsidiary books in which the following transactions are recorded with reason thereof.

(i) Purchase of furniture on credit for use in a shop.

(ii) Sale of goods on credit.

(iii) Goods returned by debtors

(iv) Purchase of stock on credit.

(v) Providing for interest on capital to a proprietor.

(vi) Goods returned to creditors.

(vii) Sale of goods for cash.

Q. Goods purchased form creditors have been received but omitted to be recorded in accounts. In such a case, which of the following adjustment entry should be passed?

Purchases A/c Dr.
To Creditors A/c

Creditors A/c Dr.
To Purchases A/c

Trading A/c Dr.
To Creditors A/c

Trading A/c Dr.
To Purchases A/c

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What is the entry passed when goods are bought on credit?

The correct option is C Purchase A/c Dr To Creditors A/c The correct entry is Purchase A/c Dr To Creditors A/c

The correct option is C

Purchase A/c Dr

To Creditors A/c

The correct entry is

Purchase A/c Dr

To Creditors A/c