DOUBLE ENTRY (3E) PART 4

Owner contributed into business cash at bank.

Business bought a shelf to be resold. DR ............ CR cash in hand

Business bought a shelf to be used in business. DR ........... CR cash in hand

When owner took out goods from the business for his own use. This is called

Drawings =

Owner took out cash from the business bank for OWN use. DR ............. CR cash at bank

Owner took out cash from the business bank for BUSINESS use. DR ............ CR cash at bank

Sales revenue =

Cost of sales =

When goods are sold, the first set of double entry is: