Which of the following correctly represents the double-entry to record a business borrowing $15,000$ from the bank as a loan, with the funds deposited directly into the business's bank account?
Question 2
A business purchases inventory worth $4,000$ on credit from a supplier. Which of the following represents the correct double-entry bookkeeping for this transaction?
Question 3
A business receives a payment of $2,500$ from a customer for an outstanding invoice. What is the correct double-entry to record this transaction?
Question 4
A business pays $1,200$ towards a supplier’s outstanding invoice using its bank account. How should this transaction be recorded using the double-entry system?
Question 5
A business owner withdraws $3,000$ in cash from the business for personal use. What is the correct double-entry for this transaction?
