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Accounting complete

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Complete the sentence by filling in the missing word from the choices provided.

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Accounting complete

Complete the sentence by filling in the missing word from the choices provided.

M. H.G.
1

Debit credited payables debt accounts revenue credit cost sales purchases debited Credit accounts receivables

An account is presented in two sections , one on the rights referred to as , and one on the left referred to as .
When a purchase order is recorded the account is in credit .
When a bill of sale is recorded the account is in debit .
The cash in hand is when the payment of a purchase order is made in cash .
The Banca X account is when a bill of sale is paid by bank transfer .
Staff salaries are a and are recorded under Debit .
Interest earned on bank deposits are a and are recorded under Credit .
Advances to suppliers are a and are recorded under Debit .
Deposits received from customers are a and are recorded under Credit .
The VAT on is a credit , while that on is a debit .