Home » Past Questions » Accounts » July 1 - Started business with #10,500July 31- Paid Agromachinex #6,000 owing th...

July 1 - Started business with #10,500July 31- Paid Agromachinex #6,000 owing th...


Question

July 1 - Started business with #10,500

July 31- Paid Agromachinex #6,000 owing

themThe double entry for July 1 would be

Options

A) debit capital and credit cash

B) credit cash and debit bank

C) debit cash and credit capital

D) debit purchases and credit cash

The correct answer is C.


More Past Questions:


Discussion