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