For the following transactions, state the accounts to be debited and credited. a) Firm buys inventory and
Fantastic news! We've Found the answer you've been seeking!
Question:
For the following transactions, state the accounts to be debited and credited.
a) Firm buys inventory and pays immediately by cheque.
b) Goods returned to the original supplier, A Rahman, due to them being faulty.
c) Garage purchases cars for resale on credit from Auto cars Ltd.
d) Greengrocer purchases fruit for cash.
e) Garage sells a recovery vehicle that had been used within the business on credit to Rescue cars Ltd.
Account to be debited | Account to be credited | |
a | ||
b | ||
c | ||
d | ||
e |
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date: