Sales and purchase account entry

• Sales account entry records revenue generated from sales

• Purchase account entry records expenses incurred from purchases

• Both accounts are used to calculate net income or...read more

1) Cash/ a/c receivable dr.

To sale a/c

2) purchase a/c dr

To cash / a/c payable

Cash a/c dr. To sales a/c

Purchase a/c dr. To cash a/c