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Types of Journal
- Sales journal
- Purchase journal
- Returned outward journal
- Returned inward journal
SALES JOURNAL: From the copy of sales, the seller enters its sales day book or sales journal. This book is a list in date order of each sales invoice showing the date, the name of the form to which the goods had been sold, the number of the invoice for reference purposes and the net amount of the invoice.
PURCHASE JOURNAL: This is used to record purchases in an orderly manner. It is also called a purchase day book. The entries of credit purchases in the books following a similar pattern to that of credit sales. The amount of the invoice (after deducting trade discount if there is any) is listed in the purchases day book and the items are then posted to the credit of a personal account in the purchases ledger. The invoice will then be filed away for future reference.
At the end of the period, the total of the purchases day book will be transferred to the debit account in the general ledger.
Example: Enter the following items in the purchases journal:
Jan 1 purchases from Dan 2,000
Jan 2 purchases from Love 3,000
Jan 3 purchases from Sam 4,000
Jan 10 purchases from Nat 5,000
Jan 15 purchases from Pat 1,000
| Date | Particulars | N Total | |
| Jan 1
Jan 2 Jan 3 Jan 10 Jan 15 |
Dan
Love Sam Nat Pat |
2,000
3,000 4,000 5,000 1,000 15,000 |
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