The journal entry when receiving invoices

• Debit the expense account for the amount of the invoice

• Credit accounts payable for the same amount

• If there is a discount offered, credit the discount account

• If...read more

Party' a/c Dr.

To cash/credit a/c

Party account Dr

To cash/credit account

WE DO NOT JOURNAL ENTRY PASS WE ARE PASSED PURCHASE ENTRY

purchase against head debit & tax debit .supllier credit against invoice amount.