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Categories >> Accounting >> Taxation


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 Taxation interview questions  Taxation Interview Questions (1905)
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what is sale entry, purchase entry, credit note , debit note
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
# 1
For cash sales: cash a/c debit,sales a/c Credit
For credit sale:Debtos a/c debt, sales a/c Credit
For cash Purchases : Purchses a/c debit, cash a/c credit
For Credit Purchases:Purchases a/c debit, Credit a/credit
For Credit note:Creditor a/c debit, Credit to party a/c
For Debit Note: Debtors a/c creidt, Debit to Party a/c
Is This Answer Correct ?    111 Yes 20 No
N.sudhakar Babu
# 2
credit sales: debtors account debit sales account credit
credit purchase:purchase account debit creditors a/c credit
debit note: sales account debit debtors account credit
credit note: creditors a/c debit purchase a/c credit
Is This Answer Correct ?    30 Yes 12 No
# 3
in case of cash sales
cash a/c will b debit and sales a/c will credit
in case of credit sales
customer name a/c debit and sales a/c credit
in case of cash purchase
purchase a/c debit
cash a/c credit
in case of credit purchase
purchase a/c debit
supplyar a/c credit
credit note entry is same like crdit sales and debit note entry same as credit purchase . Read above credit sales and purchase entry
Is This Answer Correct ?    8 Yes 4 No
Mr. Muhammad Imtiaz

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