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Home › CBSE Class 11 (Commerce) › Accountancy › Recording of Business Transactions › Buying furniture for Rs 60,000 by cheque increas…

Buying furniture for Rs 60,000 by cheque increases furniture and decreases:

ACapital
BCreditors
CCash in hand
DBank balance
Answer & Solution
Correct answer: D. Bank balance
A cheque payment draws on the bank balance, so bank decreases by 60,000.
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