what is the journal entries of a debit/credit notes in the
books of seller and purchaser's A/C.

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what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / rajinder dhawan

Credit Note: Seller

( E.g) When we give any discount or sale return )

Discount Allowed/Sale Return xxxx ( Dr)

to Party Account xxxxx ( Cr)


Debit Note : Purchaser

( E.g When he received discount / purchase retrun to seller)

Party Account xxxxxx ( Dr)

to Discount Received/Purchase retunr xxxxx( Cr)

Is This Answer Correct ?    122 Yes 13 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / rdiyewar

IN THE BOOKS OF SELLER :-
debit note :-
by party a/c debit ----xxx
to sales a/c--------------xxx
to vat a/c---------------xxx

credit note:-
BY SALES A/C debit -----XXX
BY VAT A/C DEBIT -----XXX
TO PARTY A/C CR--------------XXX
in the books of purchaser the journal entry opposite

Is This Answer Correct ?    97 Yes 30 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / sridharan.v

IN THE BOOKS OF SELLER :-

Debitnote :-

party a/c Dr xxx
To sales a/c xxx
To vat a/c xxx
(Vat payable)
Creditnote:-

Sales A/C Dr XXX
VatA/C Dr XXX
(Vat Receivable)
TO partyA/C XXX
(Inthe books of purchaser the journal entry is just
opposite to the seller)

Is This Answer Correct ?    33 Yes 6 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / aslam

Credit note:

Debit Sales a/c

and Credit party's a/c

Debit note:

Debit party's a/c
And Credit the sales a/c

Is This Answer Correct ?    28 Yes 11 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / jitendra b jagtap

1) This debit not entry purchas account debit and vat
accounts credit. this entry in debit side.

2)This credit not entry seller account credit and vat
account debit entry.

Is This Answer Correct ?    22 Yes 5 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / jane

debit revenue
credit Receivable

Is This Answer Correct ?    12 Yes 5 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / revanth

debit note will issue when purchase returns
hence
party A/c (creditor) debit
to purchase returns A/c
credit note will issue when sales return hence
sales returns A/c debit
party a/c (debtor)

Is This Answer Correct ?    2 Yes 0 No

what is the journal entries of a debit/credit notes in the books of seller and purchaser's A/..

Answer / kuldeep

debit note books of seller.

party a/c dr.
to Exps. a/c

Is This Answer Correct ?    25 Yes 30 No

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