The accounting entries used to record a cheque issued by ...
The accounting entries used to record a cheque issued by a business is to?
Debit cash book and credit drawer
Credit cash book and debit drawer
Debit cash book and credit suspense account
Credit cash book and debit suspense account
Correct answer is A
In posting accounting entries, always bear in mind the basic accounting principle of ''for every debit entry, there must be a corresponding credit entry''. In the above question, a business paid out money to its creditor (someone owed by the business) through a check, this means that, the business cash/bank accounts will be debited (take money from) while the drawer (creditor whom is owed by the business) will be credited.
The receipt from a special tax levy to pay maturing interest obligation are recorded in ...
The double entry for interest on drawings by a partner is: debit ...
Which of the following is a real account item? ...
The concept of Double Entry Book-Keeping states that ...
Use the following information to answer the given question MANUFACTURING AND TRADING ACCOUNTS ...
In a trial balance, income and liabilities are? ...
\(\begin{array}{c|c} & ₦ \\ \hline \text{Balance as per cash book} & 18,000\\ \text{Dishon...
Which of the following would be posted to the proprietor's capital account? ...
The process of reconciling cheques between banks is termed cheque? ...