Which one of the following is the correct double entry to record expenses paid in cash in an entity's books of account?
A) Debit expenses, Credit cash
B) Debit expenses, Credit trade payables
C) Debit trade payables, Credit cash
D) Debit cash, Credit trade payables
Correct Answer:
Verified
Q15: Maria receives notice from her customer Joseph
Q16: Debit irrecoverable debts, Credit trade receivables is
Q17: Puffins Limited takes out a bank loan
Q18: Barolo Limited receives a statement from the
Q19: Frascati Limited buys a new van with
Q21: Chianti Limited sells new plant and equipment
Q22: Panos invested £10,000 into a small retail
Q23: Cheapo Supermarkets makes a payment of £9,570
Q24: Arvind is setting up his own business.
Q25: Debit purchases, Credit trade payables is the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents