Multiple choice

Mr. Suresh brings his private motor car for his business activities. What will be the journal entry for this?

  1. Debit cash and credit: capital

  2. Debit motor car and credit: cash

  3. Debit capital and credit: cash

  4. Debit motor car and credit: capital
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Motor car is the asset and comes in debit  and its increased the value of capital so the capital is to be credited.

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