Question 8 Read the transaction and use the drop down option to fill in the blank. Purchased used van for cash, $6,000. Account debited is ✔ [ Select ] [Select] Owner's Drawing Gas and Oil Expense Accounts Payable Accounts Receivables Office Supplies Cash Service Fees Prepaid Insurance and account credited is
Question 8 Read the transaction and use the drop down option to fill in the blank. Purchased used van for cash, $6,000. Account debited is ✔ [ Select ] [Select] Owner's Drawing Gas and Oil Expense Accounts Payable Accounts Receivables Office Supplies Cash Service Fees Prepaid Insurance and account credited is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Step 1: Introduction
Journal entry is a primary record of a business transaction.
It consists of one or more debit and credit entries, which are always to be tallied.
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