July 1 - Started business with #10,500 July 31- Paid Agro machine x #6,000 owing
FINANCIAL
JAMB 2013
July 1 - Started business with #10,500 July 31- Paid Agro machine x #6,000 owing them The double entry for July 31 would be
- A. debit Agromachinex and credit cash
- B. debit equipment and credit Agromachinex
- C. credit capital and debit cash
- D. credit cash and debit purchases
Correct Answer: A. debit Agromachinex and credit cash
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