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In Purchases Book the record is in respect of
Cash purchase of goods,
Credit purchase of goods dealt in,
All purchases of goods.
None of the above
A firm records all its credit purchases of goods in Purchase Book or Purchase Day Book. While it records all the cash purchases of goods in the Cash Book.
By: Munesh Kumari ProfileResourcesReport error
In case of purchase every debit entry is made in purchase account, be it cash purchase or credit purchase. The difference is in the account which is credited that can be cash or creditor.
Purchase book records only the credit sales of goods. this is a subsidiary book which records only credit transactions for purchase of goods. The concept you are talking about relates to journal entries
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