Debit Purchases
Credit Cash
[Debit] Purchases [credit] Cash (partial) [credit] accounts payable (balance)
dr cash and cr purchases
[Debit] Equipment account [Credit] Cash / bank
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
[Debit] Purchases xxxx [Credit] Cash/Bank/Accounts payable xxxx
[Debit] Purchases [Credit] cash / bank
[Debit] Purchases [credit] Cash (partial) [credit] accounts payable (balance)
dr cash and cr purchases
[Debit] Purchases xxxx [Credit] Cash / bank xxxx
[Debit] Purchases xxxx [Credit] Cash / bank / goods xxxx
Cash Purchase - £112.50 Debit Bank - £112.50 Credit Purchases - £100.00 Credit VAT - £12.50
[Debit] Equipment account [Credit] Cash / bank
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
[Debit] Purchases xxxx [Credit] Cash/Bank/Accounts payable xxxx
[Debit] Purchases [Credit] Cash / bank / accounts payable
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] Purchases xxxx [Credit] Cash/bank xxxx (For Down payment) [Credit] Notes Payable xxxx