In today’s lesson, we discussed the concept of the Purchases Daybook, which records credit purchases. Students learned how to handle transactions involving invoices, as well as the importance of the purchases journal in maintaining records for business resales. An example was provided involving Paul’s Grocery Store, detailing their purchases on credit in March, along with the procedures for entering these transactions correctly. We also differentiated between invoices received for credit purchases and receipts for immediate payments, emphasizing the significance of accurate documentation.