Purchase goods and paid partial in cash and partial in credit- Accounting of Transaction
Purchased goods worth ₹80,000 for cash and for ₹ 35,000 in credit.
- It affects Cash and Inventory on the assets side and liability on the other side.
- There is a decrease in cash by ₹ 80,000 and an increase in inventory of goods by ₹ 1,15,000 on the assets side of the equation.
- Liabilities increases by ₹ 35,000.
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