Question

which account is debited in the following transactions ?in 40-60 words(1) Rent paid , (2)purchased good from Nithin​

Answer 1

Answer:

ok

Explanation:

purchase goods is debited account

Answer 2

Answer:yes

Explanation:

Rent is a nominal account. So debit all expenses, losses and credit all incomes, gains. Here rent is debited because it is an expense. Cash is credited because as cash is real account, it debuts what comes in and credits what goes out.

Purchases is a nominal account. So once again debit all expenses. Cash isn’t credited because cash is going out accordingly to real account rule mentioned above.