Osa started business with Le 40 000 cash The ac... - WAEC Accounting 2012 Question
Osa started business with Le 40,000 cash. The accounting entry is debit
A
cash account; credit capital account
B
capital account; credit cash account
C
purchases account; credit cash account
D
expenses account; credit capital account
correct option: b
Debit capital account (i.e the money used in starting a business) and credit cash
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