Question

5.
Enter the following transactions in purchases book and purchase returns
2018
₹
Aug
st
Purchased goods from Krishna
6,000
4th
Goods purchased from Mallesh
3,500
8th
Returned goods to Krishna
600
13th
Bought goods from Naveen
2,000
16h
Goods returned to Mallesh
400
22nd
Purchased goods from Ravi
4,000​

Answer 1

purchases book

1. The book is used for recording credit purchases of goods .
2. cash purchases and purchases of assets are not be recorded in this journal.

purchase returns book

1. The book is used for recording all returns of goods and materials purchased previously on credit