CUET Preparation Today
Which account is debited for Realisation expenses paid? |
Realisation Account Bank Account Revaluation Account Realisation expense Account |
Realisation Account |
The correct answer is Option (1) → Realisation Account. Realisation Account is debited for Realisation expenses paid. When Realisation expenses is paid, the following journal entry is passed- This journal entry shows that the realisation expenses are paid by the firm in cash. It reduces the cash balance of the firm. |
