Question

State whether the balance of the following accounts should be placed in the debit or the credit column of the trial balance: 

1. Carriage outwards 

2. Carriage inwards 

3. Sales 

4. Purchases 

5. Bad debts 

6. Interest paid 

7. Interest received 

8. Discount received 

9. Capital 

10. Drawings 

11. Sales returns.

12. Purchase returns

Answer 1

Trial balance as on 31^st March, 2017