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Which of the following accounts will be credited if a company...

This question belongs to Commerce Accounting
Accounting
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Which of the following accounts will be credited if a company purchases building for cash?

Answer & Solution
Correct Answer: Option D
Cash account will be credited if a company purchases building for cash. Cash is credited because cash is an asset account that decreased because cash was used to pay the bill.
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3 Comments
RIFFAT Rehman
RIFFAT Rehman 5 years ago
I think cash account will be debted in this case.
Field Academy
Field Academy 5 years ago
Cash account will be debited if a company purchased building for cash...(because debit is what goes out)
Fixed account will be credit
Ashish Gusain
Ashish Gusain 7 years ago
Cash account will be debited if a company purchased building for cash...
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