Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 36 - No. 32)
Which of the following transactions would be recorded as a credit entry?
The purchase of inventory on credit.
The owner invests cash into the business.
The payment of salaries to employees.
The receipt of cash from a customer.
Explanation
Credits increase liabilities (accounts payable), owner's equity (capital), or sales revenue (when cash is received for a sale).
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