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Credit Identify the accounts that will be debited and credited in the following transactions. Debit 1 Interest on loan paid by the issue of bank
Credit Identify the accounts that will be debited and credited in the following transactions. Debit 1 Interest on loan paid by the issue of bank cheque OMR1,000 2. The owner withdrew OMR5,000 from the business for personal purposes. 3 Recognized consulting revenue OMR10,000 4 Transferred OMR1,000 from the business to the bank account 5 Salary paid by issue of bank cheque OMR2,000 An inspection of supplies revealed that supplies worth OMR2,000 is used in 7 the business 8. Paid traveling expenses 9 Depreciation charged on Plant and Machinery OMR2,000 10 Bought motor vehicle on account from Saud Bahwan OMR10,000 1 , DE E E ss
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