Journal Entry for Use of Goods in Business Last Updated : 05 Apr, 2023 Improve Improve Like Article Like Save Share Report Sometimes goods of a business are used in the business itself. If this happens, those goods are considered assets by the business. Journal Entry: Example 1: A electrical goods dealer uses fans for the business worth ₹1,000. Solution: Example 2: A furniture merchant uses furniture for the business worth ₹5,000. Solution: Like Article Suggest improvement Previous Journal Entry for Interest on Drawings Next Journal Entry for Expenditure on Assets (Erection or Installation) Share your thoughts in the comments Add Your Comment Please Login to comment...