general entry for credit purchases, credit sales, golden
rules of accounting,what is contribution.
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Answer Posted / pradeep gunuguntla
Purchases A/c ... Dr
To Accounts Payable A/C
Accounts Receivable A/C
To Sales A/c
Personal A/C: Debit the Receiver
Credit the giver
Real A/c: Debit what comes in
Credit what goes out
Nominal A/c: Debit Expences & losses
Credit Incomes & gains
| Is This Answer Correct ? | 21 Yes | 3 No |
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