- This topic has 1 reply, 2 voices, and was last updated 10 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Sir, in purchase control account why puchase and opening balance entry in the credit side??
Because we owe money. If we owe money then it is a credit balance.
There is no such thing as ‘purchase control account’. It is the ‘purchase ledger control account’ which is another name for the total payables account.
Please watch the lectures – I cannot simply type out all the lectures here. This is dealt with in the lectures on books of prime entry and the lecture on control accounts.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.