Anonymous
Anonymous asked in Business & FinanceOther - Business & Finance · 1 month ago

Do we credit or debit these transactions?

And what are we crediting: Asset, Capital or Liability?

1. £375 paid insurance on business debit card.

2. Receivable received £5400.

3. Supplier paid by bank transfer £12750.

4. receivable received £4500.

5. Petrol paid on debit card £80.

6. Personal withdrawal £2300.

7. Advertising paid by cheque £460.

8. Purchase of stock on credit £1650.

9. Purchase of stock by cheque £1630.

10. Invoice customer on credit £1700.

Update:

***i have done it and I know debiting a Dr increases and debiting a Cr decreases and crediting a Dr decreases and crediting a Cr increased. I just wanted my answers confirmed.

1 Answer

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  • Don G
    Lv 7
    1 month ago

    Back to your textbook. This is basic accounting.

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