Skip to main content

PURCHASE | SALES

Purchase:

These purchase are those purchase in which customers have to purchase any assets or items from the supplier or creditor.

Type of purchase:

  • Cash for purchase
These purchase are those purchase in which the customer have to purchase any item for cash from supplier.
  • On credit purchase
These purchase are those purchase in which the customer have to purchase any item on credit from supplier.
full-width

Sales:

These transaction are those transaction in which the supplier have to sale any items or assets to customers.

Sales are two type:

  • Cash
These sales transaction are those transaction in which the supplier have to the sales any items or assets to customer for cash.
  • On Credit
These sales are those sales in which the supplier have to sale any items or assets on credit to customer.

Comments

Popular posts from this blog

Accounting Transactions Exercises

Accounting transactions exercises TRANSACTIONS EXERCISES: Ø   Ram sold goods to Mohan for cash. Cash a/c Dr. Sale ac Cr. Ø   Bought furniture from Ram to cash.  By furniture a/c Dr. To cash a/c Cr. Ø   Purchase machine to cash from Ram. By machine a/c Dr. To cash a/c Cr. Ø   Mohan paid cash for purchase. By purchase a/c Dr. To cash a/c Cr. Ø   Cash deposit by Ram in to Bank. By bank a/c Dr. To cash a/c Cr. Ø   Withdraw cash from bank for office use. By cash a/c Dr. To bank a/c Cr. Ø   Sold furniture by Ram for cash to Mohan. By cash a/c Dr. To furniture a/c Cr. Ø   Sold machine on credit to Mohan. By Mohan a/c Dr. To machine a/c Cr. Ø   Paid for advertisement. Advertisement a/c Dr. To cash a/c Cr. Ø   Receipt cash from Mohan for sale. Cash a/c Dr. Sale a/c Cr. full-width Note: Accounting transactions exercises are most important to understand the subject. More transaction...

LIABILITY | EXPENSE