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i purchase TV sets to resell in my shop.i purchased them from somewhere on credit. Using the rules of double entry which is correct? I
i purchase TV sets to resell in my shop.i purchased them from somewhere on credit. Using the rules of double entry which is correct?
I have lack of knowledge about that topic. I would like to learn that your reasoning with explanation.
(a)Assets increased - Liabilities increase
(b)Expenses increased - Liabilities decreased
(c)Assets decreased - Liabilities increased
(d)Expenses increased - Liabilities increased
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