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Question
Give an example of a purchase account in a journal entry.
Give an example of a purchase account in a journal entry.
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Solution
The journal entry for a purchase account is
DATE
PARTICULARS
DEBIT
CREDIT
01/01/10
Purchase account ……….……………….Dr.
150,000
To Cash account
150,000
(Being equipment bought)
The journal entry for a purchase account is
|
DATE |
PARTICULARS |
DEBIT |
CREDIT |
|
01/01/10 |
Purchase account ……….……………….Dr. |
150,000 |
|
|
To Cash account |
150,000 |
||
|
(Being equipment bought) |
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