Skip to content

Ask the Tutor ACCA FA

sale day book

TToni11y ago
How is the total of the purchases day book posted to the nominal ledger? A Debit purchases , Credit cash B Debit purchases, Credit payables control. I know the answer is B ,why not A??please explain it for me .
John MoffatJohn MoffatTutor11y ago#1
The purchase day book lists only purchases on credit, and the entry for purchases on credit is Dr Purchases; Credit Payables. Since they were bought on credit there is no entry in cash at all. I do suggest that you watch our free lecture on Books of Prime Entry.
TToni11y ago#2
thank u very very much.
John MoffatJohn MoffatTutor11y ago#3
You are welcome :-)
Sign into reply to this topic.