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what is the journal entry for credit sale and credit
purchase?
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Answer Posted / mohammed imran
credit sale:
(party)sundry debtor a/c Dr. xxxx
.To sales a/c Cr. xxxx
(being goods sold on credit)
credit purchase:
purchases a/c Dr. xxxx
.To (party)sundry creditor Cr. xxxx
(being goods purchase on credit)
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