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Categories  >>  Accounting  >>  Accounting AllOther
 
 


 

 
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question 
what is the journal entry for credit sale and credit 
purchase?
 Question Submitted By :: Ammabali
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is the journal entry for credit sale and credit purchase?
Answer
# 1		 
1. Credit Sale:-

Party (Sundry Creditor) A/c Dr.
   To Sales A/c
(Being Credit Sale made)


2. Credit Purchase:-

Purchase A/c Dr.
    To Party (Sundry Debtors) A/c
(Being purchase made for Credit Basis)
 
Is This Answer Correct ?    23 Yes 3 No
Guruprasad
 
  Re: what is the journal entry for credit sale and credit purchase?
Answer
# 2		 
Credit sale.

Party(sundrey debtors)a/c Dr
   To Sales

Credit purchASE.

Purchases a/c Dr
  To Party(sundry creditor)
 
Is This Answer Correct ?    12 Yes 2 No
Manikandan
 
 
 
  Re: what is the journal entry for credit sale and credit purchase?
Answer
# 3		 
Credit sale.

Party(sundry debtors)a/c Dr
   To Sales

Credit purchase.

Purchases a/c Dr
  To Party(sundry creditor)
 
Is This Answer Correct ?    1 Yes 0 No
Surender Singh Parcha
 

 
 
 
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