Payment of electricity expense of a particular month is ___.
Credited to Expense account
Credited to cash account
Debited to cash account
None of the above
Since the electricity expense has been paid , cash account is credited.
If installation expense is paid for any machine & put to the debit of Installation expense account, to rectify this which account shall be credited?
Ananya withdrew Rs. 2,000 per month for personal use, recording each transaction as a debit to her drawing account and a credit to her cash account. The journal entry closing the drawing account requires a credit to _______ account & debit to _______ account.