For the following transactions, state the accounts to be debited and credited. (a) Firm buys inventory and

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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 Autocars Ltd.
(d) Greengrocer purchases fruit for cash.
(e) Garage sells a recovery vehicle that had been used within the business on credit to
Rescuecars Ltd.

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Frank Woods Business Accounting Basics

ISBN: 9780273725008

1st Edition

Authors: Frank Wood, Mr David Horner

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