Monday, February 2, 2015

Debit and Credit Q3

Q.
Complete the following table showing which items are to be credited and which are to be debited.

  1. Goods bought, cash being paid immediately.
  2. Goods sold on credit to Jamie.
  3. Goods bought on credit from Hanle.
  4. Goods were returned to Hanle.
  5. Jamie returned goods to us.
  6. Old machinery sold for cash.
  7. Motor van bought on credit from King Spring.
  8. Paid creditor, Hanle by cheque.
  9. Paid telephone bill by cash.
  10. Bought office equipment on credit from IKEA Sdn Bhd.
(20 marks, 2011 Q3)

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