July 1 – Started business with #10,500
July 31- Paid Agro machine x #6,000 owing them
A. debit Agromachinex and credit cash
B. debit equipment and credit Agromachinex
C. credit capital and debit cash
D. credit cash and debit purchases
Correct Answer:
Option A – debit Agromachinex and credit cash
Explanation
Debit the creditors account ( agro-machine) and credit cash
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