**Journal Entry for Goods Bought from Kumar**

When a business purchases goods from a supplier or vendor, it needs to record this transaction in its accounting records. This is done through a journal entry, which helps maintain accurate financial records and ensures the proper recognition of expenses and assets.

**1. Identify the Parties Involved:**
In this scenario, the business has bought goods from Kumar. The parties involved are:
- Buyer: The business making the purchase
- Seller: Kumar, the supplier or vendor

**2. Determine the Nature of the Transaction:**
The journal entry will depend on the type of transaction and the payment terms. There are two common scenarios:

a) Cash Purchase: If the business pays cash immediately for the goods, it will result in a cash purchase journal entry.
b) Credit Purchase: If the business buys goods on credit, meaning it will pay for them at a later date, it will result in a credit purchase journal entry.

**3. Journal Entry for Cash Purchase:**
Assuming the business pays cash to Kumar for the goods, the journal entry would be as follows:

**Date: [Date of the Transaction]**

| Account Titles and Explanation | Debit ($) | Credit ($) |
|------------------------------|----------:|-----------:|
| Purchases (Expense Account) | | [Cost of Goods Purchased] |
| Cash (Asset Account) | [Cost of Goods Purchased] | |

Explanation:
- The "Purchases" account is debited to record the expense incurred for the goods purchased.
- The "Cash" account is credited to reflect the outflow of cash from the business.

**4. Journal Entry for Credit Purchase:**
If the business buys goods on credit from Kumar, the journal entry would be as follows:

**Date: [Date of the Transaction]**

| Account Titles and Explanation | Debit ($) | Credit ($) |
|------------------------------|----------:|-----------:|
| Purchases (Expense Account) | | [Cost of Goods Purchased] |
| Accounts Payable (Liability Account) | [Cost of Goods Purchased] | |

Explanation:
- The "Purchases" account is debited to record the expense incurred for the goods purchased.
- The "Accounts Payable" account is credited to acknowledge the liability created by the credit purchase.

**5. Recording the Cost of Goods Purchased:**
In both cases, the cost of goods purchased from Kumar is recorded in the appropriate account (Purchases). This expense will later be used to calculate the cost of goods sold and determine the profitability of the business.

**Note:**
It is important to consult with an accountant or refer to the specific accounting policies and guidelines of the business to ensure accurate recording of journal entries.

Purchase A/C....... Dr. To Kumar A/C(Being goods purchase from Kumar )