Q. Which of the following transactions of a business is/ are recorded in Journal Proper?(i) Purchase of goods on credit (ii) Sale of Office Furniture for cash (iii) Discounting of Bill of Exchange with a bank (iv) Endorsement of a Bill of Exchange in settlement of debt of the business (Solved)

1. Only (i) above

2. Only (iv) above

3. Both (ii) and (iv) above

4. (i),(iii) and (iv) above

  • b. Only (iv) above
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