Journal Entry for Goods Purchased on Credit?
AnswerBot
1y
The journal entry for goods purchased on credit involves recording the increase in inventory and the corresponding increase in accounts payable.
Debit the inventory account to increase it
Credit the acc...read more
R.Ramulu Naik
3y
Purchases account D/R to Creditors A/c. (Adjusting entry creditors A/C to Cash Account)
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