Types of Subsidiary Book -The Purchase Journal

June 12th, 2007 Comments off
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The Purchase Journal

This Journal records all purchases on CREDIT. The book is written up from the actual invoices received from trade suppliers.

Purchase Journal as follows:

Date

Invoice No

Particulars

Folio No

Details($)

Monthly Total($)

2007

Jan 1

72306

Supplier A

PL 8

190.00

20

42315

Supplier B

PL 11

150.00

31

42327

Supplier C

PL 15

450.00

$790.00
======

When the Purchase Journal is written up, the various amounts would then be posted to the credit side of the various creditors accounts in the Purchase Ledger and the total credit purchases of the period posted to the debit of the Purchases Accounts.

Purchases Ledger:

Folio No : PL8

Creditor-Supplier A

2007

$

Jan 1

72306

190.00

Folio No : PL 11

Creditor-Supplier B

2007

$

Jan 20

Bill no 42315

150.00

PL No 15

Creditor-Supplier C

2007

$

Jan 1

42327

450.00

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Financial Accounting

 
 

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