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general entry for credit purchases, credit sales, golden
rules of accounting,what is contribution.
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Answer Posted / somasekahar
purchases A/C -dr
To supplier A/C
DebtorA/c-dr
to sales a/c
personal a/c-debit the receiver,credit the giver
real account -debit what comes in,credit what goes out
nominal account-debit all expenses,credit all gains and
incomes
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