Friday, 5 August 2011

What is the entry for Purchases

1) Purchase on credit:--

Purchase a/c .......Dr

To Supplier/Vendor a/c

2) Purchase on cash:--

Purchase a/c .......Dr

To cash a/c

3) Purchase (if mentioned goods i.e. furniture, pen etc.)
on cash

Furniture/pen a/c.......Dr

To cash a/c

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