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Accounts (Principles of Accounts) · Double entry and the ledger

Accounts (Principles of Accounts)Double entry and the ledgerJAMB

The owner brings in a personal car for business use. The entry is

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Answer: A. debit motor vehicles, credit capital

Capital increases by the car's value.

An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.

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