Akirika bought a motor van for his business by cash. The ...
Akirika bought a motor van for his business by cash. The entries are to debit
Motor van and credit Akirika
Sales and credit Akrika
Motor van and credit cash
Cash and credit motor van
Correct answer is C
Since the van is not for resale rather to help in the running of the business, we debit motor van and credit cash account.
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Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33\(\frac{1}{3}\)% on co...