24. A business bought a computer for the office and paid by cheque. How will the business record this transaction? A. B. C. D. Debit bank account office equipment account bank account purchases account Credit office equipment account bank account purchases account bank account 25. Y's account appears in the ledger of X as follows. Jan 1 Bal b/d Jan 20 Sales 100 Jan 10 Bank 100 400 Jan 31 Bal c'd 400 500 500 ichter is roc. A. On 1 January Y was owed $100 by N B. On 10 January Y paid $100 into the bank C. On 20 January Y supplied goods $400 to X D. On 31 January Y was a trade receivable of X for $400 26. The owner of a business takes goods costing $6 000 from his shop for his own use. What are the book keeping entries? A. B. C. D. Credit Debit drawings account $6 000 purchases account $6 000) drawings account $6 000 inventory account $6 000 purchase account $6 000 drawings account $6 000 inventory account $6 000 drawings account $6 000 27. A trader takes goods that have a selling price of $200 from his shop for his own use. The cost price of these goods is $150. How is this transaction recorded in his accounting records? Account(s) debited drawings 200 Account(s) credited purchases 200 A. B. C. D. purchases 200 drawings 150 purchases 150 drawings 200 purchases 150 drawings 150 28. The owner of a business takes inventory for her own use. What are the ledger account entries to record this? Account(s) debited A. B. C. D. Capital Capital Drawings Drawings Account(s) credited Drawings Sales Purchases Inventory