Question

7. Sold Household Furniture for Rs 5000 .The proceeds were invested in the business.What will be the effect of this Transaction on the

Journal Entry. 1 M



a) Dr .Cash A/C debited and Cr. Furniture A/c by 5000

b) Dr. Furniture A/c and Cr . Cash Account by 5000

c) Dr. Cash A/c and Cr. Capital A/c by 5000

d) Dr . Capital A/c and credit Furniture A/c by 5000

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Answer 1

Answer:

options A is the correct answer broo

Answer 2

Dr. Cash a/c debited and Cr. furniture a/c by 5000 is correct .