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

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

i have one question.when using fbra for reset clearing,message exchange rate different was posted and i have do reversalon the same time using fb08 but unfortunately i' m not authorize to use this transaction.my collegue only have.so how should i do.please advise

1812


what is the difference between speculation & investment?

1735


explain the difference between LIFO and FIFO?

724


What was key roles of Cashflow statement and Fund flow statement and Balnsheet..?

1804


i need sbi bank clerk exam model question papers

1932






what do you mean indirect expanse in trading business?

1818


where we have file E-returns in SAP FICO-CIN/Wtax?

2193


What are the major responsibility's of an accountant? what are the qualities he /she requires?

1626


What is a bad credit score?

1612


Short Answer on -----Trade mark

1465


What is re-financing in Letter of Credit settlement

1524


What is the treatment of Capital Work in Progress as per the International Accounting Standards.

4427


Explain valuation methods of Normal and Abnormal loss

1601


emplementation of accounting standerds in Bangladesh, developing or copieng?

1617


How can i get GR form (GR No.) for Exports ? please give me a link of website with steps ?

2171