Exercise 2 Identify the accounts to be debited and accounts to be credited in the following transactions. No Debit Credit Transaction Opened an account in Oman Arab Bank by depositing RO5,000 2 Purchased goods on credit from Mahmood & Brothers Company RO75,000. 3 Paid Purchase transportation RO2,000 in cash. Sold goods to ABC Traders worth RO80,000 out of which 70% received in cash and rest on account 5 Deposited cash into Oman Arab Bank RO25,000 Rent RO900 adjusted towards advance rent. 7 Purchased vehicle for RO5.000 from Saud Bahwan on credit & Sales retum by ABC Traders RO5,000 9 Interest on Loan paid RO1,200 10 Received commission from Ibra Traders RO2.500