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The Double Entry System for Sales and Purchases

  • Margaret Nicholson
Chapter

Abstract

So far we have seen the double entry accounts which are required for the assets, liabilities and the capital of the business. In the same way all other transactions of the business must be recorded. Usually, in business the main objective is to buy and sell goods in order to make a profit, and it is essential that the purchases of the business and the sales of the business are kept completely separate and are not confused.

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Copyright information

© Margaret Nicholson 1989

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  • Margaret Nicholson

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