Purchases Journal and Purchases Ledger

Purchases Journal and Purchases Ledger

Definition of Purchases Invoice
– A document received by a purchaser showing details of goods bought and their prices.

Purposes of using Purchases Journal
– To record purchases made through credit purchases
– Act as a record on the creditors’ information on matters regard to their name, date of purchases, amount of purchases and the relevant invoice number.

The Purchases Journal is also known as the purchases book or the purchases day book.

Credit Purchases were first entered in the Purchases Journal, followed by Purchases Ledger.

Example of Purchases Journal

Example of Purchases Ledger

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