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Purchase of furniture on credit should be recorded in (A) Journal (B) Purchase Book (C) Cash Book (D) Journal proper

Posted by .... .... 3 years, 11 months ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Seth 3 years, 11 months ago

(D) Journal proper

Cash purchases are recorded in the Cash Book. Other purchases such as purchases of office equipment, furniture, building, are recorded in the journal proper if purchased on credit or in the cash book if purchased for cash. On account is an accounting term that denotes the furniture or asset or service is purchased on credit.

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