What is a journal entry for buy transaction

AnswerBot
1y

A journal entry for a buy transaction involves debiting the asset account and crediting the cash account.

  • Debit the asset account for the cost of the purchase

  • Credit the cash account for the amount paid...read more

bittersweetmelon
4mo
works at
Creditors Party A/c Cr Purchase A/c Dr
Anonymous
1y
Transfer of purchase.
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