Question

What is purchase book and sales book with example​

Answer 1

Answer:Sales Book: Sales Book (also known as Sales Day Book or Sales Journal) is one of the subsidiary books which is used for the purpose of recording the sale of merchandise (goods purchased for resale) on credit. It records neither the cash sale of the merchandise nor sale of any asset other than merchandise.Only “credit purchases” of the “goods dealt in” by the firm are recorded. ... (i.e. which are meant for resale). Credit purchases of the goods/materials which are not dealt in by the firm are not recorded in this book.Purchase Book is a subsidiary book which records the transactions of credit purchase of goods for trading purpose. Cash purchases are recorded in the Cash Book. It is also known as purchase register or purchase day book.

Explanation:

Answer 2

Answer:

Sales Book: Sales Book (also known as Sales Day Book or Sales Journal) is one of the subsidiary books which is used for the purpose of recording the sale of merchandise (goods purchased for resale) on credit. It records neither the cash sale of the merchandise nor sale of any asset other than merchandise.