Ibrahim, a micro business operator, sold 10 bags of sugar...
Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.
The record in Jide's book would be to debit
Purchases #12,000 and credit Ibrahim #12,000
Purchases #12,000 and credit sugar account #12,000
Jide #12,000 and credit purchases
Ibrahim #12,000 and sugar account #12,000
Correct answer is A
Debit purchase account with 12,000 and credit cash paid to ibrahim 12,000
The trading account is usually headed ...
The purpose of a trading account is to ascertain ...
Interest on Partner's drawing is credited to ...
The book of account in which information from the source documents are recorded consists of ...
Purchasers - #44,880 Sales - #85,850 Trade creditors - #12,250 Trade debtors - #24,000 Accrued e...
Sales ledger balances 01/06/12------ 9,000 30/06/12------------------------------------30,000 ...