Complete the table by stating, for each transaction, the book of prime entry to be used; the
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Complete the table by stating, for each transaction, the book of prime entry to be used; the account to be debited; and the account to be credited.
The first row has been completed for you.
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Transaction Goods sold on credit Fixed asset sold for cash Goods for resale purchased on credit Cash sales Purchase of goods for resale paid cash Cheques received from credit customers Cash withdrawn for personal use Insurance premium paid with cash Fixed asset sold payment to be received next month Wages paid by cash Book of prime entry Sales day book Account debited Customer Account credited Sales
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