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To record the purchase of a motor vehicle for $40,000 cash for use by the CEO. Please select the correct journal entry for it. Dr Cash Dr Cash Dr Cr Dr Cr Cr Cr Motor vehicle (b/s) Accumulated depreciation (b/s) Motor vehicle (b/s) Depreciation expense (p&l) 40,000 Cash 40,000 Cash 40,000 40,000 40,000 40,000 40,000 40,000

To record the purchase of a motor vehicle for $40,000 cash for use by the CEO. Please select the correct journal entry for it. Dr Cash Dr Cash Dr Cr Dr Cr Cr Cr Motor vehicle (b/s) Accumulated depreciation (b/s) Motor vehicle (b/s) Depreciation expense (p&l) 40,000 Cash 40,000 Cash 40,000 40,000 40,000 40,000 40,000 40,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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To record the purchase of a motor vehicle for $40,000 cash for use by the CEO. Please select the correct journal entry for it. Dr Cash Dr Cash Dr Cr Dr Cr Cr Cr Motor vehicle (b/s) Accumulated depreciation (b/s) Motor vehicle (b/s) Depreciation expense (p&l) 40,000 Cash 40,000 Cash 40,000 40,000 40,000 40,000 40,000 40,000
Transcribed Image Text:To record the purchase of a motor vehicle for $40,000 cash for use by the CEO. Please select the correct journal entry for it. Dr Cash Dr Cash Dr Cr Dr Cr Cr Cr Motor vehicle (b/s) Accumulated depreciation (b/s) Motor vehicle (b/s) Depreciation expense (p&l) 40,000 Cash 40,000 Cash 40,000 40,000 40,000 40,000 40,000 40,000
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