Question

What is the journal entry for purchasing Machinery from M/S Darjeeling?

Q: Answer-What is the journal entry for purchasing Machinery from M/S Darjeeling?

Being purchased a machinery, increase an asset will be debited and increase in liability will be credited. Here, the payment has not been made in cash, therefore Cash Ac wont be credited.

A Machinery A/c Dr. To Cash

B Machinery A/c Dr. To M/S Darjeeling

C M/S Darjeeling Dr. To Machinery

D M/S Darjeeling Dr. To Cash

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What is the journal entry for purchasing Machinery from M/S Darjeeling?

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