You can buy a 1598 computer. Not all store request that you do a credit check.
purchase a/c Dr To Customer Name (Being Credit Purchase to C ' Name Rs)
[Debit] Purchases [Credit] Accounts payable
[Debit] Purchase Return [Credit] Purchases
[Debit] Purchases[Credit] Accounts payable
entry for credit purchases isPurchases a/c drTo crediters a/c
Here is the accounting entry for recording the credit purchase: Purchases a/c Accounts Payable Here is the entry to writte off when payment made Accounts Payable Cash/Bank a/c
debit goodscredit cashtax credit has nothing to do with actual purchase of goods.
debit accounts payablecredit purchase returns
[Debit] Purchases [Credit] cash / bank
Debit assetsCredit accounts payable
Cash Purchase - £112.50 Debit Bank - £112.50 Credit Purchases - £100.00 Credit VAT - £12.50
BY VENDOR Dr TO BANK Cr