Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 6 - No. 47)
For a standing order from our bank current account to pay a recurring expense
Debit the account with the amount paid to the supplier, Credit bank account.
Credit the account with the amount paid to the supplier, Debit bank account.
Debit cash account, Credit bank account.
Debit bank account, Credit expense account.
Explanation
Debit the account with the amount paid to the supplier, Credit bank account.
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