in the question: furniture purchased from Kartik for rs 60,000 posted to Jatin's account. In this question how the rectification entry is jatin to Kartik. Explain properly with appropriate logic .

Dear Student,

Whenever we purchase an asset, the journal entry is:
Date Particulars L.f. Amount Dr Amount Cr
  Asset a/c                            
                            To Cash a/c or To Seller's a/c      
  (Being asset purchased)      

(When the asset is purchased for cash, cash a/c is credited, and when asset is purchased on credit, the vendor is debited)

In this case, furniture was purchased on credit from Kartik. So, Kartik's account should have been credited in this entry and Furniture a/c should have been debited. But instead of crediting Kartik, Jatin's a/c was credited wrongly.
So, in the rectification entry, we'll have to debit Jatin's a/c and credit Kartik's a/c.

Rectification entry:
Date Particulars L.f. Amount Dr Amount Cr
  Jatin's a/c                            
                            To Kartik's a/c      
  (Being Jatin's a/c wrongly credited instead of Kartik's a/c on purchase of furniture, now rectified)      


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