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Double entry book keeping
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Purchased goods on credit
Dr Purchases, Credit Trade Payables
Sales on credit
Dr Trade Receivable Cr Sales
purchase motor vehicle by cheque
Dr MV Cr Bank
Long term loan is an example for non current liability. Is it correct?
Correct
Double entry for cash sales
Dr Cash, Cr sales
Paid rent in cash $ 25 Which are the two accounts involved in it?
Rent debit and cash credit
Ajay began business. He opened a business bank account and invested $ 80 000 as capital. Which account is debited and which is credited?
Bank a/c Debited Capital a/c Credited
Find the two accounts involved in the given transaction. Paid cash $ 500 to a credit supplier Mr. Been
Mr. Been a/c Debit Cash a/c Credit
What is the double entry rules for Asset?
Asset increase debit and Asset decrease credit
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