6
Question
Sale of office furniture should be debited to __________.
Sale of office furniture should be debited to __________.
Open in App
Solution
The correct option is C Cash account
Profit
on sale of furniture account is a
nominal account the golden rule regarding which says “ All expenses and losses should be debited and all
income and gains should be credited” as we are earning
income from selling we have to
credit this account.
Cash A/c Dr.
To Sales A/c.
Profit on sale of furniture account is a nominal account the golden rule regarding which says “ All expenses and losses should be debited and all income and gains should be credited” as we are earning income from selling we have to credit this account.
Cash A/c Dr.
To Sales A/c.
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
