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

Question Posted / mohammed farooque

Answer Posted / 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



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