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what is the journal entry for credit sale and credit
purchase?
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Answer Posted / 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 |
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