The journal entry for purchasing goods from Siva would typically be recorded as follows:
Debit: Inventory (or Purchases) account for the total amount of goods purchased
Credit: Accounts Payable (or Cash) account for the total amount owed to Siva
This entry reflects an increase in assets (inventory) and a corresponding liability (amount owed to Siva).
Copyright © 2026 eLLeNow.com All Rights Reserved.