Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 47 - No. 4)
A company pays its rent using a bank transfer. Where does this transaction get recorded in the cash book?
Debit side of the cash column.
Credit side of the cash column.
Debit side of the bank column.
Credit side of the bank column.
Explanation
A bank transfer reduces a company's bank account balance, so the transaction is recorded on the credit side of the bank column.
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