Accounting WAEC

The price paid for the purchase of a business is?

A. credited to cash accounted to cash account and debited to vendor’s account
B. debited to cash account and credited to Vendor’s Account
C. debited to business purchase Account and credited to Asset Account
D. credited to cash Account and debited to Asset Account

Correct Answer: Option A

A. credited to cash accounted to cash account and debited to vendor’s account

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