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what is the journal entry for credit sale and credit
purchase?

Answers were Sorted based on User's Feedback



what is the journal entry for credit sale and credit purchase?..

Answer / pulak roy

Credit Sale:

Sundry Debtors A/c ......Dr
To Sales A/c

Credit Purchases:

Purchases A/c............Dr
To Sundry Creditors A/c

Is This Answer Correct ?    1 Yes 2 No

what is the journal entry for credit sale and credit purchase?..

Answer / vidyadhar ks

purchase A/C dr
credit Purchase A/C Cr

Credit sales A/C DR

sales A/C

Is This Answer Correct ?    2 Yes 5 No

what is the journal entry for credit sale and credit purchase?..

Answer / sriraam sri

Purchase a\c Dr

To Sundry Debtor a\c


sundry Creditor a\c Dr

To Sales a\c

Is This Answer Correct ?    1 Yes 4 No

what is the journal entry for credit sale and credit purchase?..

Answer / sidhu

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 ?    41 Yes 52 No

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