Please wait...
Contact Us
Need assistance? Contact us on below numbers

For Enquiry

10:00 AM to 7:00 PM IST all days.

Business Inquiry (North)

Business Inquiry (West / East / South)



Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this number


Mon to Sat - 10 AM to 7 PM

Goods purchased on credit are recorded in which subsidiary book and why?

Asked by Topperlearning User 11th July 2016, 4:49 PM
Answered by Expert

Purchases book is a subsidiary book which records credit purchases of goods i.e. the goods which the firm trade in. Cash purchases of goods and purchases of any assets are not recorded in the purchase book. Purchases book is also known as invoice book/bought book. Bills or invoices received from supplier are the source document for recording entries in the books.

Therefore, goods purchased on credit are recorded in purchases book.

Answered by Expert 11th July 2016, 6:49 PM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer /10

Your answer has been posted successfully!

Chat with us on WhatsApp