A. credit cash account, debit bank account
B. debit cash account, credit bank account
C. debit officer account, credit bank account
D. debit drawings account, credit bank account
E. debit bank account, credit drawings account

Correct Answer:

Option B – debit cash account, credit bank account

SEE ALSO  Opening creditors was N65,000, closing creditors was N41,000. Credit purchases was N200,000 and discount received N3,000. How much was paid to creditors?

Copyright warnings! Do not copy.