This is as well known as purchases daybook. This in other words means “the book that records all the goods that have been bought (purchased) on credit for resale”. Here, payment is not made at the time of purchases and so they are recorded in the purchases book. Note that purchases book is different from purchases account. Purchases day book is a book that records all credit purchases for resale and cash is paid immediately. In other words, purchases daybook is credit purchases while purchases account is cash purchases.