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Vendor A/c Dr
To Purchases A/c Cr
In an entry what "TO"(Near Purchase) means or stands for or
used for or from which accounting angle we have to use.
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Answer Posted / swetha
By accounting standard principles and concepts always
purchases should be debit
sales should be credit
for ex:if u purchase of goods on credit for rs 10/- from x
person then entry
purchases a/c - dr
To x a/c
if cash purchases means
purchases a/c -dr
To cash a/c
| Is This Answer Correct ? | 4 Yes | 1 No |
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