The owner writes a cheque in favor of school for payment of fees of his child. Which account shall be debited in this case?
Owner`s account
Bank account
School Fees account
Drawings account
Drawings account shall be debited as it is a personal expense & not a business expense.
The owner writes a cheque in his favor for withdrawal of money from bank for business. Which account shall be debited in this case?
When debtors deposit amount directly to our bank account, which account shall be debited?
The bank has credited an interest of Rs 100 in the account. Which account shall be debited in such case?
Which account shall be debited for issue of cheque to a regular supplier of our company?