The purchase of mattresses from Freehold enterprises by c...
The purchase of mattresses from Freehold enterprises by cheque amounted to #305,150. The correct entries for this transaction in the book of the buyer is to debit
Sales account and credit bank account
Purchases and credit bank account
Cash and credit freehold
Bank and credit freehold
Correct answer is B
In the book of the buyer, we debit stock or purchase account and credit bank
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Aminu and Sons credit purchases (Extract] as at February 1996. Feb 1Credit balances 40,000 Debit...