what is the journal entry for credit sale and credit
purchase?
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Answer / manikandan
Credit sale.
Party(sundrey debtors)a/c Dr
To Sales
Credit purchASE.
Purchases a/c Dr
To Party(sundry creditor)
| Is This Answer Correct ? | 1066 Yes | 78 No |
Answer / surender singh parcha
Credit sale.
Party(sundry debtors)a/c Dr
To Sales
Credit purchase.
Purchases a/c Dr
To Party(sundry creditor)
| Is This Answer Correct ? | 323 Yes | 40 No |
Answer / guruprasad
1. Credit Sale:-
Party (Sundry Creditor) A/c Dr.
To Sales A/c
(Being Credit Sale made)
2. Credit Purchase:-
Purchase A/c Dr.
To Party (Sundry Debtors) A/c
(Being purchase made for Credit Basis)
| Is This Answer Correct ? | 571 Yes | 365 No |
Answer / burada venkata ramana
Credit sales entry
Sundry Debtors a/c Dr
To sales a/c
(Being the credit sales of ------)
Credit Purchase entry
Purchase A/c Dr
To Sundry Creditor A/c (supplier)
(being the credit purchase of -------- from -----)
| Is This Answer Correct ? | 161 Yes | 14 No |
Answer / mskk
Sundry Debtors A/c Dr
To Sales
2. Purchase A/c Dr
To S. Creditors
| Is This Answer Correct ? | 120 Yes | 20 No |
Answer / kasi reddy - madhire
Credit Sales:
Customer or Debtor a/c DR
To Sales a/c
(Being credit sales made)
Credit purchases:
Purchases a/c DR
To Vendor or Creditors a/c
(Being credit purchases made).
| Is This Answer Correct ? | 84 Yes | 17 No |
Answer / s.arunalagarsamy
1.credit purchase
purchase A/c Dr xxxx
To Account payable A/c(supplier) xxxx
(being credit purchase is made)
2.credit sales
Accounts Receivable A/c(Buyer) Dr xxxx
To sales A/c xxxx
(being credit purchase is made)
| Is This Answer Correct ? | 62 Yes | 16 No |
Answer / anupam kumar
Sundry Debtors A/C Dr xxx
or
Party name A/C Dr
To Sales A/C Cr xxx
purchase A/C Dr xxx
To Sundry Creditors A/C Cr
or
Party name A/C Cr xxx
| Is This Answer Correct ? | 50 Yes | 10 No |
Answer / 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 |
Answer / dip
Credit sale
Sundry Debtor...Dr
To Sales
Cr Sales a/c ...Dr
To trading P/L a/c
Credit Purchase
Cr Purchase...Dr
To Sundry Creditors
Trading P/L....Dr
To Cr Purchase
Entries will be different for Cash Sales and Purchase.
| Is This Answer Correct ? | 33 Yes | 19 No |
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