what is the journal entry for credit sale and credit
purchase?
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 |
Post New Answer View All Answers
is there any chance for confilcts between an accountant and a sales executive ? If yes how do you resolve the same as an accountant ?
Expand BEMS
What is the analytical way of accounting?
We are a education institute based in chennai.if i purchase a product in chennai and i transfer it to our branch which is in bangalore. we don't have tin nos,Sales tax nos, cst nos. We have only service tax nos. what is the procedure.
In what cases can Convertible bonds be considerred as derivatives?
Define The Term Journal And Explain The Present Day Use?
what are the seven accounting rules
what is capital market and money market? what is primary market and secondary market?
How i pass the share holders capital entry in Tally? How to set this option in Tally?
What are the question asked for accounts associate
What does my credit score mean?
Reserve Capital and Reserve Capital
Hi, If I am placing the order in amazon on behalf of the customer who place the order in other e-commerce application in which If I mention the billing address of the customer and goods will be delivered to the customer from amazon ,and other E-commerce site will deduct their commission on the certain % and make the payment to me on some what profit at that time how should maintain my books of account..??
who invented acounts?
Do I need a waybill in the following case:- If I purchase (on bill) small quantity goods (like artificial jewelry) from one state (say Delhi) and transports it personally (say via flight) to other state (say West Bengal) along with my personal belongings and then I put them to sell through my boutique in that state. Do I need waybill? If yes, what will be the procedure? Do I need to pay entry tax at WB? What will be the procedure? Am I doing anything unlawful while transferring goods personally? Please give your advice. Regards, Manoj