State the accounts to be debited and credited for each of the following separate transactions: (a) Purchased
Question:
State the accounts to be debited and credited for each of the following separate transactions:
(a) Purchased equipment by cheque £600.
(b) Sold motor vehicle by cheque £300.
(c) Purchased stock by cash £150.
(d) Paid £400 cash into bank.
(e) Withdrew £300 from the bank for use as cash.
(f) Paid trade creditors £50 cash.
(g) Paid trade creditors £450 by cheque.
(h) Paid £250 cash into the bank.
(i) Received £250 from debtors in cash.
LO.1
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