Question

how do we find credit sales and credit purchase?​

Answer 1

Answer:

The term “credit sales” refers to a transfer of ownership of goods and services to a customer in which the amount owed will be paid at a later date. In other words, credit sales are those purchases made by the customers who do not render payment in full at the time of purchase.

Answer 2

Answer:

We can find credit sales by preparing Total debtors account and credit purchase by preparing Total creditors account.