Forlah, a stock broker bought stationery for ₦12,000 by cash. To record this transaction, debit

Forlah, a stock broker bought stationery for ₦12,000 by cash. To record this transaction, debit

Answer Details

The correct way to record this transaction is to debit stationery and credit cash. This is because when a stock broker buys stationery for cash, the company's stationery account increases (debit) and the company's cash account decreases (credit).