What are the entries of purchase payable and sales receivable? from journal to finalize entry(to Closing) .?

1. Purchases Dr

    Supplier Payable / Cash Cr

2. Purchase Cr

    Supplies expense Dr

3. Supplies expense Cr

    Profit and loss Dr

4. Cash / Receivables Dr

    Sales Cr

5. Receivables Cr

    Bank Dr

6. Sales Dr

    Income and expense Cr

Purchase Payable:

Dr: Purchase A/c   XXXX

CR: CASH OR CREDITOR    XXXX

SALES RECEIVABLE:

DR: CASH OR DEBTORS       XXXX

CR : SALES A/C               XXXX