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Purchase of mobile handset

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(Querist)
30 October 2013 sir,

a new micromax mobile handset was purchased for the proprietor of the firm.

please suggest which account to debit and which to credit.

regards
vijay
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swasti

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swasti (Expert)
30 October 2013 If it is for personal purpose, debit capital account and credit cash/bank account. If it is for business purpose, debit fixed assets and credit cash/bank account.

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