Interested to Buy Any Domain ? << Click Here >> for more details...
what is the journal entry for credit sale and credit
purchase?
- 24 Answers
- 297087 Views
- Accenture, Cap Gemini, Consero Global, Fauji Fertilizer, Genpact, HP, IBM, Insurance, OPG, Vibro, Xerox, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / manikandan
Credit sale.
Party(sundrey debtors)a/c Dr
To Sales
Credit purchASE.
Purchases a/c Dr
To Party(sundry creditor)
| Is This Answer Correct ? | 1066 Yes | 78 No |
Answer / surender singh parcha
Credit sale.
Party(sundry debtors)a/c Dr
To Sales
Credit purchase.
Purchases a/c Dr
To Party(sundry creditor)
| Is This Answer Correct ? | 323 Yes | 40 No |
Answer / guruprasad
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 ? | 571 Yes | 365 No |
Answer / burada venkata ramana
Credit sales entry
Sundry Debtors a/c Dr
To sales a/c
(Being the credit sales of ------)
Credit Purchase entry
Purchase A/c Dr
To Sundry Creditor A/c (supplier)
(being the credit purchase of -------- from -----)
| Is This Answer Correct ? | 161 Yes | 14 No |
Answer / mskk
Sundry Debtors A/c Dr
To Sales
2. Purchase A/c Dr
To S. Creditors
| Is This Answer Correct ? | 120 Yes | 20 No |
Answer / kasi reddy - madhire
Credit Sales:
Customer or Debtor a/c DR
To Sales a/c
(Being credit sales made)
Credit purchases:
Purchases a/c DR
To Vendor or Creditors a/c
(Being credit purchases made).
| Is This Answer Correct ? | 84 Yes | 17 No |
Answer / s.arunalagarsamy
1.credit purchase
purchase A/c Dr xxxx
To Account payable A/c(supplier) xxxx
(being credit purchase is made)
2.credit sales
Accounts Receivable A/c(Buyer) Dr xxxx
To sales A/c xxxx
(being credit purchase is made)
| Is This Answer Correct ? | 62 Yes | 16 No |
Answer / anupam kumar
Sundry Debtors A/C Dr xxx
or
Party name A/C Dr
To Sales A/C Cr xxx
purchase A/C Dr xxx
To Sundry Creditors A/C Cr
or
Party name A/C Cr xxx
| Is This Answer Correct ? | 50 Yes | 10 No |
Answer / mohammed farooque
Credit sale entries
Party A/c Dr xxxx
Sales A/c Cr xxxx
Cash A/c Dr xxxx
Party A/c Cr xxxx
Credit Purchase entries
Purchase A/c Dr xxxx
Party A/c Cr xxxx
Party A/c Dr xxxx
Cash A/c Cr xxxx
| Is This Answer Correct ? | 36 Yes | 8 No |
Answer / dip
Credit sale
Sundry Debtor...Dr
To Sales
Cr Sales a/c ...Dr
To trading P/L a/c
Credit Purchase
Cr Purchase...Dr
To Sundry Creditors
Trading P/L....Dr
To Cr Purchase
Entries will be different for Cash Sales and Purchase.
| Is This Answer Correct ? | 33 Yes | 19 No |
WHAT IS THE PROCEDURE TO CLAIM SALES TAX FORMS(C'FORM)FROM CLOSED COMPANY
What is meant by budget? Explain briefly
what is accounting entries to be made in TAlly for stock (rice, cocunut, oils etc.,) used for food (like idly, dosa etc.,) pls guide us
what is controlership?
define the REVENUE
What is depreciation and how many methods are using explain With examples
I am a non commerce graduate acting as office manager in a construction company. I am interesting to learn accountancy thru short cut methods and in a short duration. Can any body there to help me. I will be pleased to receive any sugessions and learning tips to my e-mail
expand D I N
What do you mean by invoice?
LET ME KNOW WHAT IS THE PROCESS FOR CUSTOMER INTEREST CALCULATION KINDLY EXPLIAN THE REQ. STEPS
Expand CASA
Is the the invoice number and voucher no will be same most of the time or it should be same?
Audit 
