Interested to Buy Any Domain ? << Click Here >> for more details...
what is the journal entry for credit sale and credit
purchase?
- 24 Answers
- 295430 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 securitization
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
what is Future period and adjustment period?
1 Answers Bank Of America, Idea,
How good are you at Finance?
3. In reviewing Corporate equity on a balance sheet, what effect be included in the description “Total Capital Stock” a) Par value of preferred b) Par value of common c) Paid in Capital excess of par value d) Both (a) and (b)
How can i prepare MIS report for Finance?
whether directors fees included in cost or not? if yes/no why?
what Bank Reconcilation ?
Expand ________FIPB
can any one send me payables real time scenarious or any projects
expand R T C
Expand ________FOR
Audit 
