BASIC TRANSACTION OF BUSINESS

Basic transaction of every business can be identified as follows and basic double entries saw in here. I like to say every transaction not covered in following table and hope to discuss step by step. In next post hope to solve basic example for your knowledge. Also hope to indicate important management theories for business.

REF. NO.	DESCRIPTION	DEBIT	CREDIT
01	CASH SALE	CASH BOOK	SALE ACCOUNT
02	CREDIT SALE	DEBTOR ACC.	SALE ACC.
03	CASH PURCHASE	PURCHASE ACC.	CASH BOOK
04	CREDIT PURCHASE	PURCHASE ACC.	CREDITOR ACC.
05	PAYMENT FOR EXPENSES	EXPENSE ACC.	CASH BOOK
06	PAYMENT FOR CREDITORS	CREDITOR ACC.	CASH BOOK
07	RECEIVED FROM DEBTORS	CASH BOOK	DEBTOR ACC.