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how can I answer these questions, how will I know if it is DEBIT or CREDIT?? c Peyton Keyes invested additional cash in the business
how can I answer these questions, how will I know if it is DEBIT or CREDIT??
c Peyton Keyes invested additional cash in the business with a deposit of P25,000 in the business bank account. b Paid P24,000 for the purchase of land as a future building site Received cash from cash customers for dry cleaning revenue, P19,500. d Paid rent for the month, P3,000 Purchased supplies on account, P1.550. 1. Paid creditors on account, P5.100. g. Charged customers for dry cleaning revenue on account, P24.750 h Received monthly invoice for dry cleaning expense for July (to be paid on August 10), P8,200. Paid the following: wages expense, P5.100, truck expense, P1.200utilities expense, P800; miscellaneous expense, P950 Received cash from customers on account, P26.750. Determined that the cost of supplies on hand was P1,800 therefore, the cost of supplies used during the month was P2.950. Withdrew P18.000 cash for personal useStep by Step Solution
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