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Why is freight on credit purchases credited to creditor's account?

Monisha KM

CA Inter

★ 825

11-Jun-22 12:05

489

Answers (10)

Best Answer

You need to pay to the creditor or the transporter

CA Suraj Lakhotia

Admin

11-Jun-22 12:27

It is also liability

Avasarala Vivek Aditya

CA Inter

★ 6K+

11-Jun-22 12:40

Sir isn't it freight payable?

Sugam SM

CA Final

★ 9K+

11-Jun-22 12:51

You can credit to any liability account. Depends on the question

CA Suraj Lakhotia

Admin

11-Jun-22 12:52

Purchases a/c Dr To creditor personal a/c To Freight payable a/c ??

Sugam SM

CA Final

★ 9K+

11-Jun-22 12:54

Yes

CA Suraj Lakhotia

Admin

11-Jun-22 12:54

CA Suraj Lakhotia Admin

You can credit to any liability account. Depends on the question

Okay sir

Sugam SM

CA Final

★ 9K+

11-Jun-22 12:54

Purchases Dr Freight Inward Dr To Creditor To Freight payable

CA Suraj Lakhotia

Admin

11-Jun-22 12:54

Sir, while Posting the purchases journal can l prepare the frieght payable account separately?? Or is it mandatory to credit it to creditors account??

Thread Starter

Monisha KM

CA Inter

★ 825

11-Jun-22 13:04

Thread Starter

Monisha KM

Sir, while Posting the purchases journal can l prepare the frieght payable account separately?? Or is it mandatory to credit it to creditors account??

You can credit it to freight payable as well.

CA Suraj Lakhotia

Admin

13-Jun-22 09:45