Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 13 - No. 6)

3. Which ledger entries will you need to debit and which ledger entries will you need to credit for each transaction?

Debit the cash received and credit the bank amount for the same

Debit the cash received and credit the income statement for the same

Debit the bank account and credit the revenue account

Debit the asset account and credit the bank account

Debit the asset and credit bank account