Please clarify if only credit sales and purchases are recorded in the sales day book and purchases day book respectively...if that is the case please advise where cash sales and purchases are recorded. Thank you.
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Cash sales & purchases
Sales day book is record to credit sales only and Purchases day book is to record credit purchases only.
Cash sales and Cash purchases will be recorded in the Cash book.
Note that Cash book is the book of prime entry for all the cash purchases and sales and also discounts allowed and discounts received.
11y ago#2Nishan is correct.
John: I suggest that you watch the free lecture on Books of Prime Entry!
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