Question

An example in AAT Lv 2 bookkeeping - ledger accounts:

Frankie pays £900 to purchase a computer - he pays with a cheque to the supplier - what is the double entry for this transaction?

In the solution it says the business has paid £900 out of the bank account - it has become an expnse needs to be credited into the bank account.

But when they told us to learn
Debits
Expense
Asset
Drawings
expsenses would go in the debit side right? then why is it saying here it will go in credit side?

Answer 1

Answer:

Photosynthesis is the process by which green plants make food with the help of sunlight, carbon dioxide and water.

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Answer 2

Answer:

Recording Money to Start a Sole Proprietorship

If Amy Ott also lends some money to the business, the entry will be to debit Cash and credit a liability account such as Notes Payable. (If Amy invests an asset other than cash, the business will record the cash equivalent or fair market value of the asset.)