[Debit] Cash /bank / accounts receivable
[Credit] Sales revenue account
[Debit] Finished Goods [Credit] Work in process
Purchases a/c dr Accounts Payable cr
The journal entry is the accounting entry which lists the goods that are bought on credit.
debit goods / inventorycredit accounts payable
Debit goods purchasesCredit cash / bank
Debit goods receivedCredit accounts payable
debit goods returnedcredit accounts receivable
i received goods but not invoice so i have not actually paid for my goods? help
Abnormal loss of goods a/c dr. To purchases a/c
L/C related all journal entries
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
debit accounts receivablecredit sales revenue