Question

Question 6
Credit purchases are ascertained by preparing----
"
Total Creditors A/C
Total Debtors A/C
Bills ReceivableA/C
Bills Payable A/C​

Answer 1

AnswEr :

Credit purchases are ascertained by preparing total creditors A/c

Explanation :

★ Total purchase = Credit purchase + Cash purchase.

When any firm purchase any thing without immediate payment and promise to pay after some days then it is called credit purchase.

• Journal entry

Purchase A/c Dr.

To Creditor's A/c

Answer 2

Answer:

Question :-

$\mapsto$ Credit purchases are ascertained by preparing "_____________".

Options :

• Total Creditors A/C
• Total Debtors A/C
• Bills Receivable A/C
• Bills Payable A/C

Answer :-

$\dashrightarrow$ Credit purchases are ascertained by preparing -

$\implies \sf\boxed{\bold{\red{(1)\: Total\: Creditors\: Account\: (A/C)}}}$

$\rule{150}{2}$

EXTRA INFORMATION

$\bigstar$ Account :

• An account is a T shape format having two sides.
• Left hand side is known as Debit (Dr.).
• Right hand side is known as Credit (Cr.).

$\bigstar$ Types Of Account :

1. Personal Account
2. Real Account
3. Nominal Account