Mr. Ajay has a business of selling furniture. He has purchased a table for use in his office. Which of the following accounts should be debited?

Ajay`s account

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Furniture account

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Purchases account

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Expense account

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Solution

The correct option is B
Furniture account

Since the furniture has been purchased for use in his office & not for resale, it is considered as asset and thus furniture account is debited.

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Mr. Ajay has a business of selling furniture. He has purchased a table for use in his office. Which of the following accounts should be debited?

The correct option is B Furniture account Since the furniture has been purchased for use in his office & not for resale, it is considered as asset and thus furniture account is debited.

The correct option is B
Furniture account

Since the furniture has been purchased for use in his office & not for resale, it is considered as asset and thus furniture account is debited.