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2008 1 Mar Started business with $1,000 cash. credit or debit​
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42 votes
42 votes
2008 1 Mar Started business with $1,000 cash.
credit or debit​

User Matthew Erwin
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1 Answer

17 votes
17 votes

Answer:

The cash a/c is debited as it is an asset for the business and the capital a/c is credited as it is a liability for the business according to the business entity concept.

User Tifa
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