Question

Consider each transaction below and state which account will be debited and which
account will be credited :
(a) Cash introduced by proprietor 40,000.
(b) Premises bought for cash * 25,000.
(c) Goods for resale bought for cash 3,000.
(d) Equipment bought on credit from C. Bhatia & Co. 35,600.
(e) Goods for resale bought on credit from Dhulian Bros. 37,500.
(f) Cash sale to Bijay & Sons 3,800.
Sale to Subir Bal on credit * 5,200.
(h) Paid assistant's salary 1,200.​

Answer 1

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