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Is vehicle at cost debited in trial balance?

User NDJ
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Answer:

Step-by-step explanation:

When a vehicle is purchased for business purposes, it is recorded as an asset in the company’s books. The cost of the vehicle is debited to the asset account, and the credit entry is made to the cash account or the accounts payable account, depending on whether the vehicle was purchased with cash or credit.

Therefore, the vehicle at cost is debited in the trial balance as it is recorded as an asset.

User Anton Sinelnyk
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