Accounting entry for credit sales and credit purchases
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Answer / vivek jain
Credit Sales: Debtors a/c Dr.
To Sales A/c (Trading A/c)
Credit Purchases: Purchases A/c Dr.(Trading A/c)
To Creditors A/c
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / raghu.v
Credit sale :-
Customer Name A/c Dr
to Sales a/c
Credit Purchases
Purchases a/c
Vendor Name a/c
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / raghu.v
when credit sale :-
Customer A/c Dr
Sales A/c Cr
when credit Purchases :-
Purchases A/c Dr
Vendor A/c Cr
| Is This Answer Correct ? | 2 Yes | 1 No |
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