Question

analyze the following transactions state the nature of the account which account will be debited and which one should be credited 1purchased goods from manohar in credit 300000 paid to manohar rs 1 20000 paid wages 10000 deposited into the bank rs 20000​

Answer 1

Answer:

1)purchase ac dr300000

to manohar300000

2) manohar ac dr300000

to cash ac 120000

to discount received ac 180000

3) wages ac dr10000

to cash ac10000

4) bank ac dr 20000

to cash ac20000