Credit Purchase entry

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Question Posted / pallavi

12 Answers
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Credit Purchase entry..

Answer / suburam

debit the purchase A/c and credit the credit suppliers A/c

Is This Answer Correct ?

52 Yes

6 No

Credit Purchase entry..

Answer / guduri

Purchase account will be always debited.But the credit
entry will differ from occassion to occassion
1.If it is purchased on cash -Purchase Dr and Cash will be
credited
2.If it is purchased thru cheque Credit entry will be
replaced by Bank
3.If it is purchased on credit the credit entry will be
replaced by the suppliers name
If you keep all these things in mind it will be very easy
to transact any thing
Pl visit my Web www.therealaccountants.com

Is This Answer Correct ?

35 Yes

3 No

Credit Purchase entry..

Answer / earasathiru6

if ur purchased Machinery here on credit that entry is

machinery A/c Dr
To Party A/c
( Being machinery purchased on credit)
If ur purchased goods or material for consumption or selling
purpose on credit base that entry is

Purchase A/c Dr
To Party A/c
(Being material purchse on credit base)

Is This Answer Correct ?

26 Yes

1 No

Credit Purchase entry..

Answer / manish vatsaya

Purchase A/c -------Dr.
To,Suppliers A/c

Is This Answer Correct ?

18 Yes

4 No

Credit Purchase entry..

Answer / md abdul bari

Purchases A/C Dr. xxxx
To Creditors A/C xxxx

Is This Answer Correct ?

15 Yes

4 No

Credit Purchase entry..

Answer / vinay

Cr.Purchase A/c -------Dr.
To,Suppliers A/c

( Being credit purchase )

Is This Answer Correct ?

10 Yes

3 No

Credit Purchase entry..

Answer / sathish

Cr.Purchase A/c -------Dr.
To,Suppliers A/c

Is This Answer Correct ?

8 Yes

2 No

Credit Purchase entry..

Answer / praveen sharma

When ever a cradit purchase is done two accounta are affected the purchase a/c & craditors a/c now as we know that the purchase a/c is a Real a/c & tha golden rule of real a/c says that Dr what comes in & cr what goes out so hare stock is comming so tha stock a/c or purchase a/c will be Debited & craditor a/c is a personal a/c and the rule of personal a/c says Dr the reciver & cr the giver now hair we see that the craditor is the giver of stock so according to rule craditor s a/c Willbe cradited

Purchase a/c Dr
To craditor s a/c

Is This Answer Correct ?

3 Yes

0 No

Credit Purchase entry..

Answer / mehtab ahmad

purchase a/c dr.
to supplier a/c
(being credit purchase made from supplier(abc))

Is This Answer Correct ?

1 Yes

0 No

Credit Purchase entry..

Answer / pradeep gunuguntla

Purchase A/C .. Dr

Accounts Payable A/c