1.

Journal entries- X purchased goodsfrom y Rs.40,000

Answer»

Answer:

In the books of X

Purchase A/c. DR 40,000

To CASH A/c. CR 40,000

Being goods purchased for cash.

In the books of y ..

Cash. A/c Dr 40,000

To goods A/c Cr 40,000

Being goods sold away for cash.



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