Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 16 - No. 27)
What would be presented on the debit side of an income and expenditure account?
Subscriptions in arrears at the year end.
Rent expense.
Salaries expense.
Bar sales.
Explanation
Expenses are recorded on the debit side, subscriptions in arrears are assets and bar sales are income.
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