Which of the following account will be credited incase of increase in balances of respective accounts?
Machinery
Cash
Motor Vehicle
Sales
Sales is a revenue account, therefore increase in sales will be credited in sales account.
Opening balance of cash account is Rs. 2,00,000. Expenditure payable is Rs. 70,000. Amount of cash sales is Rs. 80,000 & Amount of credit sales is Rs. 1,00,000. What is the closing cash balance?
Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchased a vehicle through cheque?