Question

Effect of this transaction:When asset is purchase against cheque : Debit asset A/C Debit expenses A/C Debit purchase A/C and credit bank A/C Debit asset A/C and credit bank A/C

Answer 1

Answer:

asset a/c dr

to bank a/c

Explanation:

as rule says dr what comes in and credit what goes out. in this assets come so we dr it and cheques goes so we cr it. hope you understand.

Answer 2

Answer:

Debit purchase A/C and credit bankA/C