Question

in case of credit transaction,it definately affects the account of
a)goods
b)person
c)asset
d)service​

Answer 1

Answer:

D) service

Explanation:

Bcz of the message was came like

Sir your xyz amount has been done!

Answer 2

The correct option is:

Ans- Person.

When goods or services are purchased in credit the transaction will have an effect on the person's account.

The accounting entry would be:

Mr.V ac.                               dr.

 To goods/ service ac.            cr.

( Being goods/ services purchased by Mr.V on credit)

• So instead to cash or bank which was to be received the name of the debtor is entered in the journal affecting the person's account.