Question

From the following transactions, state the nature of account and state which account will 4 be debited and which account credited:
(i) Commenced business with cash ₹ 50,000.
ii) Paid into bank ₹ 10,000.
(iii) Purchased goods for cash ₹ 20,000
(iv) Sold goods for cash ₹ 40,000
(v) Rent paid ₹ 500.

Answer 1

Answer:

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