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Analyse the following transactions, state the nature of accounts and state which account will be debited and which account will be credited:
S.N Particulars
1 Purcahsed furniture for cash from Raj Furniture House 75,000
2 Purchased goods for cash 55,000
3 Sold goods for cash to Pal 35,000
4 Sold goods to Om 60,000
5 Deposited cash in bank for opening an account 70,000
6 Received a cheque from Om 20,000
7 Deposited Om’s cheque the next day
8 Borrowed from Sohan 1,00,000
9 Paid interest on loan 10,000
10 Withdrew cash for personal use 5,000
Anurag Pathak Changed status to publish September 18, 2023