Accounting for IGCSE & O level - Accounting Procedures (Section 8 - No. 3)
Which of the following would be recorded as a debit to the vehicle account?
A payment for vehicle repairs
The money received from a sale of a vehicle
A new vehicle purchased by the business
The fuel costs for the vehicle
Explanation
A new vehicle purchased would increase the value of non-current assets, so would be recorded as a debit to the vehicle account.
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