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    rambo1993's Avatar
    rambo1993 Posts: 1, Reputation: 1
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    #1

    Dec 6, 2012, 11:55 AM
    How do I journalize for purchase and sales?
    Please help me on how to do it. Just give me an idea on how to do it and I'll base my knowledge on it to answer my question.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Dec 6, 2012, 12:02 PM
    For purchases Debit applicable account like Purchases or inventory and Credit applicable account like Cash or Accounts Payable.

    For Sales Debit applicable account like Cash or Accounts Receivable and Credit the applicable account like Sales Revenue or Service Revenue.

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