Which is the correct entry for the entity. asper AS& tax

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transaction is telephone wire purchased 1160 vat14% 163 - total 1323 from balwant storeWhich is the correct entry for the entity. If the entity is in the goods sell category and availsinputvat.1 office R and M 1160 input vat 163 TO Balwant store 1323

2 office R and M 1323

TO Balwant store 1323

AI Summary

Clarification Needed on Accounting Entry for Telephone Wire Purchase Including VAT: Input VAT Accounting Method Questioned. A user inquired about the correct accounting entry for a transaction involving the purchase of telephone wire from a store, with a total cost of 1,323, including VAT. The user provided two potential entries: one accounting for input VAT and one without. The response indicated that the query was unclear, suggesting a need for further clarification on the transaction details or the accounting method to be used.