01 September 2009
While credit purchase, we pass purchase a/c dr to party name here in abv entry no cash a/c is dr or cr then this entry is posted in cash book as follows cr side of cash book purchase a/c will come and dr side of cash book party name will come both with same amt this entry is ryt but why do we post it in cash instesd of any other book b coz here no cash a/c is cr or dr explain it with reason
02 September 2009
If purchase has been made on credit basis then it should in purchase book. If purchase on cash then it should be recorded in cash book
CAclubindia
