Cheapo Supermarkets makes a payment of £9,570 from its bank account to pay what it owes to its supplier of breakfast cereals. Which one of the following is the correct double entry to record this transaction in Cheapo Supermarkets' books of account?
A) Debit bank £9,570, Credit trade receivables £9,570
B) Debit sales £9,570, Credit bank £9,570
C) Debit purchases £9,570, Credit bank £9,570
D) Debit trade payables £9,570, Credit bank £9,570
Correct Answer:
Verified
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