If goods are purchased on credit for resale,the accountant:
A) debits inventory and credits debtors
B) debits creditors and credits inventory
C) debits inventory and credits owners' equity
D) debits inventory and credits creditors.
Correct Answer:
Verified
Q47: In which of the following transactions or
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Q51: A debit balance in which of the
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Q54: On 10 July 2011,RST Ltd borrowed
Q55: Identify the journal entry required to
Q56: Which of the following are debits?
A) contributions
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