Answered

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37. Identify the correct journal entry for the transaction:
Purchase goods of Rs. 2,000 on cheque.
a. Purchase a/c........Dr.
To bank a/c
b. Purchase a/c.......Dr.
To cash a/c
c. Cash a/c.......Dr.
To purchase a/c
d. Purchase a/c........Dr.
To cheque a/c

Sagot :

GinnyAnswer

Final answer:

Journal entry for purchasing goods on a cheque: Purchase a/c debited, cash a/c credited.


Explanation:

The correct journal entry for the transaction: Purchase goods of Rs. 2,000 on cheque is:

  1. Option b. Purchase a/c.......Dr. To cash a/c

In this case, the purchase account is debited as goods are purchased, and cash account is credited as payment is made through a cheque.


Learn more about Business transactions here:

https://brainly.com/question/38924533


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