Petty Cash Transactions Summary Quiz

Debit purchases, credit asset (correct)

Debit drawings, credit asset

Debit purchases, credit drawings

Debit asset, credit purchases

Dr asset, Cr drawings

Dr drawings, Cr asset (correct)

Dr drawings, Cr cash

Dr cash, Cr drawings

Goods were paid for in arrears

Goods were paid by bank or cash

Goods were purchased on credit (correct)

Goods were paid for in advance

<p>Revenue account</p> Signup and view all the answers

<p>Returning goods to suppliers for a refund</p> Signup and view all the answers