If a promoter pays a lawyer N5,000 for services rendered ...
If a promoter pays a lawyer N5,000 for services rendered in preparing a Memorandum of Incorporation, the journal entry is to debit?
Preliminary expenses, credit cash accounts
Promoter, credit creditors' accounts
Lawyer's credit cash accounts
Cash, credit incorporation accounts
Correct answer is A
No explanation has been provided for this answer.
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