Question :
Which of the following will appear on the debit side of Receipts and Payments Account of Grand Club?
Option 1:
Loss on sale of furniture
Option 2:
Subscription received
Option 3:
Insurance premium paid
Option 4: All of these
Answer (1)
24th Jan, 2024
Correct Answer:
Subscription received
Solution : Subscription received will appear on the debit side on Receipts and Payments Account. Hence, the correct option is 2.
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