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Chapter 7
Purchase day book
The purchase day book summarises the daily purchases made on credit terms (i.e.
the goods are purchased and payment will be made at a later date). Cash purchases
are recorded in the cash book. Note that not all of the suppliers are registered for
sales tax and so not all credit purchases will include sales tax.
Ledger Net Sales Tax Gross
Date Invoice Supplier Ref $ $ $
4.1.X6 34 Harry PL2 2,700 540 3,240
4.1.X6 11 Ron PL37 145 0 145
4.1.X6 5609 Hermione PL12 4,675 935 5,610
4.1.X6 2 Neville PL9 750 150 900
4.1.X6 577 Draco PL1 345 0 345
–––––– –––––– ––––––
Total for
4.1.X6 8,615 1,625 10,240
The total purchases made on credit for the day will be entered into the accounting
ledgers in double-entry format. Note that the day book will also record any sales tax
charged by suppliers on the purchases made by the entity.
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