Select the correct statement.
Under a self-balancing system of ledgers, a purchase of goods is recorded by
(i) Debiting Purchases A/c and crediting Bought ledger adjustment A/c in the general ledger
(ii) Debiting the Bought ledger adjustment A/c, and crediting the General ledger adjustment A/c in the bought ledger
(iii) Debiting the General ledger adjustment A/c, and crediting the Supplier’s A/c in the bought ledger
(iv) Debiting the Supplier’s A/c, and crediting the General ledger adjustment A/c in the general ledger
1
Both (i) and (iii)
2
Both (iii) and (iv)
3
Both (i) and (ii)
4
Both (ii) and (iii)