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purchase and sales are mainly related to the profit &lose account.when sales is increased so automatically our gross profit become increasing,and vice versa.
Sales and purchases can be viewed in P&L Account but if have any returns against sales & purchases, it can be veiwed in Journal register
A. Profit & Loss A/c and B. Balance sheet.
We can view sales and purchase in Profit and Loss.
sales purchase account can view in profit & loss a/c
A. Trading and Profit and loss a/c is correct answer
We can get profit and loss of each items'
A. Profit & Loss A/c and B. Balance sheet.
Entry.
Account Recievable or Cash xxxx
Sales xxxxx
Purchases xxxx
Accounts Payable or Cash xxxx
The coreect answer is A.Profit & loss A/c
In Tally Sales & Purchase Groups are reflected in Trading & Profit and Loss account. You can use key board letter 'P' from Gate of Tally Menu to diplay Trading & Profit & Loss Account.
Alternative ways you can go;
From Gateway of Tally - Display - Account Books - Group Summary - Sales Account / Purchase Account.