Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 2 - No. 49)
When a business pays for an expense by cheque, which of the following occurs?
Bank is debited and expense is credited.
Bank is credited and expense is debited.
Cash is debited and expense is credited.
Cash is credited and expense is debited.
Explanation
Paying by cheque credits the bank and debits the expense.
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