Journal Entry of Purchased Furniture from Furniture Mart

On [date], we purchased furniture from Furniture Mart for a total cost of 20,000. The furniture consisted of [list of items purchased].

Paid in Full Settlement to Furniture Mart

On [date], we made a full payment of 19,000 to Furniture Mart to settle the outstanding balance for the furniture purchased. The payment was made through [method of payment].

Explanation

The purchase of furniture from Furniture Mart was necessary to upgrade our office space and provide a more comfortable and professional environment for our employees and clients. The furniture was carefully selected to ensure that it was both functional and aesthetically pleasing.

We chose to make a full payment of 19,000 to Furniture Mart to settle the outstanding balance to avoid any further financial obligations or penalties. This also helped to maintain a positive business relationship with the company.

Overall, the purchase of furniture from Furniture Mart was a necessary investment in our business and we are pleased with the quality and durability of the items purchased. We look forward to continuing to work with Furniture Mart for any future furniture needs.

Furniture A/c Dr 20000
To cash A/c 19000
To dis A/c 1000