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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Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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