For the following transactions state which accounts should be debited, and which should be credited. (a) Insurance
Question:
For the following transactions state which accounts should be debited, and which should be
credited.
(a) Insurance paid in cash.
(b) Goods previously purchased returned to J Nesbit.
(c) Cash banked.
(d) Purchases on credit from G Thompson.
(e) Marketing costs paid by cheque.
(f ) Car used in business sold for cash.
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Account to be debited Insuranc...View the full answer
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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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