Accounting entry for credit sales and credit purchases

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Accounting entry for credit sales and credit purchases..

Answer / vivek jain

Credit Sales: Debtors a/c Dr.
To Sales A/c (Trading A/c)

Credit Purchases: Purchases A/c Dr.(Trading A/c)
To Creditors A/c

Is This Answer Correct ?    9 Yes 0 No

Accounting entry for credit sales and credit purchases..

Answer / raghu.v

Credit sale :-

Customer Name A/c Dr
to Sales a/c

Credit Purchases
Purchases a/c
Vendor Name a/c

Is This Answer Correct ?    3 Yes 0 No

Accounting entry for credit sales and credit purchases..

Answer / raghu.v

when credit sale :-

Customer A/c Dr
Sales A/c Cr

when credit Purchases :-

Purchases A/c Dr
Vendor A/c Cr

Is This Answer Correct ?    2 Yes 1 No

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