A cheque drawn for N1200 was entered in the cash book as ...
A cheque drawn for N1200 was entered in the cash book as a receipt. The accounting entries are
Credit cash account, debit bank account with N1,200
Debit cash account, creidit bank account with N1,200
Credit cash account, debit suspense account with N2,400
Debit cash account, debit suspense account with N2,400
Credit bank account, debit suspense account with N2,400
Correct answer is E
No explanation has been provided for this answer.
If the opening stock is 5% of sales. calculate the purchases ...
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