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WAEC Financial Accounting 2013 Question 19

Question 19

Trial Balance

Which of the following is recorded on the debit side of the Trial Balance?

  1. A.Bank overdraft
  2. B.Returns outwards
  3. C.Purchases
  4. D.Capital
Show the answer and explanation

Answer: C (Purchases)

Explanation

Purchases is an expense-type account with a debit balance. Overdraft, returns outwards and capital are credit balances.