Question

Purchase a cycle for his son journal entry?

Answer 1

Answer:

Cycle A/c - Dr. Cycle A/c and Cash A/c are real a/cs as Cycle is an asset of the business and so is Cash, so the rule of debit what comes in and credit what goes out was the rule followed here.

Answer 2

Cycle A/c - Dr. Cycle A/c and Cash A/c are real a/cs as Cycle is an asset of the business and so is Cash, so the rule of debit what comes in and credit what goes out was the rule followed here.

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