These are the normal balances in the general ledger when entering
data in individual accounts. Students should take note that the returns and allowances are all
going to reduce their respective sales or purchases accounts. These are contra accounts
for their respective revenue or purchase account.
| NORMAL BALANCES | |||
| BUYER | SELLER | ||
| Purchases | dr | Sales | cr |
| Purchase discount | cr | Sales discount | dr |
| Purchase return | cr | sales return | dr |
| Purchase allowance | cr | sales allowance | dr |
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