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WAEC Accounting 2012 Paper
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Question : 13
Total: 47
Osa started business with Le 40,000 cash. The accounting entry is debit
cash account; credit capital account
capital account; credit cash account
purchases account; credit cash account
expenses account; credit capital account
Validate
Solution:
Debit capital account (i.e the money used in starting a business) and credit cash
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