Akirika bought a motor van for his business by cash. The entries are to debit

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Accounts - Principles of Accounts JAMB 2012

Akirika bought a motor van for his business by cash. The entries are to debit

  • motor van and credit Akirika
  • sales and credit Akrika
  • motor van and credit cash checkmark
  • cash and credit motor van

The correct answer is: C

Explanation

Since the van is not for resale rather to help in the running of the business, we Debit motor van and credit cash account

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