Accountancy, asked by fluffy10, 11 months ago

purchased office furniture and issued cheque​

Answers

Answered by mysteriousRZ
0

Answer:

Office equipment Debit (xxx)

Bank Credit (xxx)

Explanation:

Office equipment is asset which has a debit nature. We are buying an asset, so obviously it is increasing. Hence it will be debited.

Similarly, bank is an asset. We're paying for the equipment through cheque therefore bank will be credited.

Hope it helps

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