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what is the journal entry for credit sale and credit
purchase?
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Answer Posted / 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 |
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