We have Sales Journal, now let’s look at another subsidiary book or special journal called the Purchase Journal:-
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The Purchase Journal |
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This Journal records all purchases on CREDIT. The book is written up from the actual invoices received from trade suppliers. Purchase Journal as follows:
When the Purchase Journal is written up, the various amounts would then be posted to the credit side of the various creditors accounts in the Purchase Ledger and the total credit purchases of the period posted to the debit of the Purchases Accounts. Purchases Ledger: Folio No : PL8 Creditor-Supplier A
Folio No : PL 11 Creditor-Supplier B
PL No 15 Creditor-Supplier C
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