In case of a journal entry for cash purchase Cash account and Purchase account. Furniture Purchases can be either Inventory or Fixed Assets to the buyer depending on the circumstances. A Journal Entry Is The First Step Of The Accounting Or Book Keeping Process In This Step All The Accounting Transactions A Accounting Journal Entries Journal Company purchase shares of other entities they have to record increases in marketable security and cash paid. . 1Quantity 2 Rate per Kg 3 Excise Duty Direct or Input as such 4 VATCST. A purchase return is another important journal entry that is often overlookedthis type of journal entry records when a purchaser returns a product. It means the company uses banks cash to pay for the purchase. When Goods are bought and you have to pay both purchase value and VAT input or paid both at that time following journal entry will be passed. Example of Purchase Credit Journal Entry. Further two inv...