Which of the following entry/entries are true for the following - ProProfs Discuss
Topics-
Products +
     

Which of the following entry/entries are true for the following transaction?
A business buys stationery using their bank card.



A. Debit the stationery account
B. Credit the stationery account
C. Debit the bank account
D. Credit the bank account

This question is part of Debits and Credits Quiz
Asked by Beginbookkeep, Last updated: May 31, 2018

+ AnswerRequest Answer
...

2 Answers

e.Pablo

E.Pablo

Answered on Apr 02, 2018

There are two options for this entry: you can either use a debit card meant for stationary, or you can use a credit card from a bank meant for general business expenses. Either way, the purchase of stationary will most likely have been approved by higher ups before it’s made, and there will most likely be a specific direction for the funds that will be used for this purchase. It all depends on the specific company that is purchasing the stationary.

This may mean that employees have to pay out of pocket and be reimbursed, or it could mean that there’s a general bank account meant for ordering this kind of thing. That will also influence what kind of stationary is purchased, but that’s an answer for a different question.

 Reply

beginbookkeep

Beginbookkeep

Answered on Oct 09, 2017

Debit the stationery account
Credit the bank account
 Reply

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.