[Debit] Purchases
[Credit] Accounts Payable
[Debit] Purchase Return [Credit] Purchases
debit accounts payablecredit purchase returns
Debit assetsCredit accounts payable
entry for credit purchases isPurchases a/c drTo crediters a/c
The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX
[Debit] Purchase Return [Credit] Purchases
debit accounts payablecredit purchase returns
Debit assetsCredit accounts payable
[Debit] Purchases [Credit] cash / bank
debit goodscredit cashtax credit has nothing to do with actual purchase of goods.
entry for credit purchases isPurchases a/c drTo crediters a/c
The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX
BY VENDOR Dr TO BANK Cr
[Debit] Gift purchased [Credit] Cash / bank
what is the journal entry for purchase returns
[Debit] Car Asset [Credit] Cash / bank
[Debit] Purchases xxxx [Credit] Cash / bank / goods xxxx