Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 36 - No. 35)
Which journal entry would be recorded for the purchase of a machine for $1,200?
Debit Cash $1,200, Credit Machine $1,200
Debit Machine $1,200, Credit Cash $1,200
Debit Purchase $1,200, Credit Cash $1,200
Debit Machine $1,200, Credit Purchase $1,200
Explanation
The machine is an asset. This increases assets and decreases cash.
Comments (0)
