1
Question
Sale of office furniture should be debited to __________.
Sale of office furniture should be debited to __________.
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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.
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