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Understanding Debit and Credit Rules by Mukund kela is a document available to read on EtoBox.

Here are the accounting entries for the transactions: 1. Cash A/c Dr. 70,000 To Capital A/c 70,000 (Initial capital introduced) 2. Purchase A/c Dr. 14,000 To Mr. B A/c 14,000 (Goods purchased on credit) 3. Wages A/c Dr. 500 To Cash A/c 500 (Wages paid in cash) 4. Mr. B A/c Dr. 10,000 To Cash A/c 10,000 (Payment made to creditor) 5. Furniture A/c Dr. 1,000 To Cash A/c 1,000 (Furn

Author

Mukund kela

Language

EN