
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
5mo
works at

Creditors Party A/c Cr
Purchase A/c Dr
Anonymous
1y

Transfer of purchase.
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