Accounting cycles

General Accounting Principles

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

The weekly or monthly total of the purchase book is

Posted to the debit of the Purchase Account

Posted to the debit of the Sales Account

Posted to the credit of the Purchases Account

None of the above

The total purchase day book and cash purchases is taken to the purchase Account and is further transferred to Trading Account.