Ignoring GST, the Correct Entry to Record the Purchase of a Motor

question 34

Multiple Choice

Ignoring GST, the correct entry to record the purchase of a motor vehicle for $45 000 cash is:

• A) DR Bank $45 000; CR Motor vehicles $45 000
• B) DR Motor vehicles $45 000; CR Bank $45 000
• C) DR Motor vehicles $45 000; CR Equity $45 000
• D) DR Motor vehicles $45 000; CR Accounts receivable $45 000

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