A Special Journal Used For Recording All Items Or Goods (Merchandises) Purchased On Account
A Special Journal Used For Recording All Merchandises Purchased On Account / Used To Record Purchase Of Merchandise On Account Purchases Journal is used for recording all items / goods purchased on account or on credit. Example: Mr. A is a sole owner of his business. On 5 th August, 2021, Mr. A Purchased Items Worth Rs. 30000 from Mr. B on account. This is a transaction and should be recorded in Purchases Special Journal. The journal entry to record is shown below: Purchases a/c 30000 ...