I am a beginner in Accounting studies and having a hard time identifying the nature of Purchase and Sales A/C ( and respective Returns A/C). Can anyone please explain the type to which these accounts belong to as per traditional and modern approach.
regards,
nirvan.
I think I should have posted this question in Students section. So I am closing this post and re-posting in Students section.
regards,
nirvan.
I think purchase and sales are expenses......
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