Accounting WAEC

Goods worth N800 was stolen. The double entries are?
Goods worth N800 was stolen. The double entries are?Goods worth N800 was stolen. The double entries are?

A. purchases account, credit trading account
B. trading account, credit purchases account
C. profit and loss account, credit purchases account
D. profit and loss account, credit purchases account
E. capital account, credit purchases account

Correct Answer:

Option C – profit and loss account, credit purchases account

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