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Purchase journal or Purchase day book

Purchase journal is used to record the entries or transactions for credit purchases. Remember that purchase journal is only used to record entries for credit purchase not for cash purchase and purchase return

Simple double entry for credit purchase

Debit--> Purchases

Credit--> Creditor-Supplier’s name/description


DATE
INVOICE
SUPPLIER/ACCOUNT CREDITED
FOLIO
AMOUNT $
















Date Column: is used to record the date of credit purchase
Invoice Column: is used to record the No. of invoice received
Supplier Column: is used to record the name of supplier from whom you did purchase the goods
Folio Column: records reference to purchases ledger account
Amount Column: Amount of credit purchases that was made


EXAMPLE


Record the following transactions of XYZ store in a Purchase journal for the month of march, 2011



   March 1.Purchased goods from Mr. X worth $50 on credit invoice No. 342
   March 21.The store Purchased goods From Mr. Y for $100 on account and received Invoice No. 343  
   March 26.Purchased goods From Mr. Z for $250 on credit; Invoice number: 344
   March 30.Goods of worth $222 were purchased from Mr. G on account, invoice#345



Purchase journal

DATE
INVOICE
SUPPLIER/ACCOUNT CREDITED
FOLIO
AMOUNT $
Mar.  1
Mar. 21
Mar. 26
Mar. 30
342
343
344
345
Mr.X
Mr.Y
Mr.Z
Mr.G

50
100
250
222
Mar. 31
TOTAL
622