Question

1. The following balances appeared in the books of Akshita :
Cash
80,000
Cash at Bank
* 20,000
Stock
30,000
Machinery
20,000
Outstanding salary
10,000
Prepaid insurance
1,000
3.
Sold goods costing * 5,000 on credit to Manish for
allowing

Received ₹
from Manish after receiving a cash discount of 300
which was 5% of the amount due from him.
Paid cash 5,000 for outstanding salary,​

Answer 1

Explanation:

1 . debit balance

2. debit balance

3. debit balance

4. debit balance

5. credit balance

6. debit balance