Where do we record credit purchase of furniture in Tally A. Purchase B. Payment C. Receipt D. Journal

The correct answer is A. Purchase.

In Tally, the Purchase module is used to record all purchases made on credit. This includes purchases of goods and services from suppliers, as well as purchases of fixed assets such as furniture.

To record a credit purchase of furniture in Tally, you would follow these steps:

1. Go to the Purchase module.
2. Click on the New button.
3. Enter the supplier’s name and address.
4. Enter the date of the purchase.
5. Enter the quantity and unit price of the furniture.
6. Enter the total amount of the purchase.
7. Select the Credit option.
8. Click on the Post button.

The purchase will be recorded in the Purchase Ledger and the General Ledger. The Purchase Ledger will show the details of the purchase, including the supplier’s name, the date of the purchase, the quantity and unit price of the furniture, and the total amount of the purchase. The General Ledger will show the total amount of the purchase as a debit to the Purchases Account and a credit to the Accounts Payable Account.

The Payment module is used to record payments made to suppliers. The Receipt module is used to record receipts from customers. The Journal module is used to record all transactions that are not recorded in other modules.

I hope this helps!