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.
Discounts granted branch customers are treated as a debit to branch? ...
An advantage of using accounting ratios is that ...
When shares are issued above their nominal value, the excess above the nominal value is ...
A general journal contains? ...
Show how the following transaction will be recorded applying the double-entry principle: Rent ₦50...
Use the following information to answer the given question Kudi Local Government Council incurred...
Using LIFO method of stock valuation, analyze the issue quantities and their prices ...