Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 5 - No. 14)
Which ledger accounts would you debit and which ledger accounts would you credit for the double entry for profit transactions in question 8?
Credit is used for liability, debit is used for asset
Credit is used for asset, debit is used for liability
The same for both
None of the above
Explanation
None of the above.
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