Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 42 - No. 2)
What is the correct accounting treatment for paying a monthly internet bill via direct debit?
Debit Bank, Credit Internet Expense
Debit Internet Expense, Credit Bank
Debit Cash, Credit Internet Expense
Debit Internet Expense, Credit Cash
Explanation
The bank account is credited (reduced) and the internet expense (cost) is debited (increased).
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