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how to entry new vehicle enty in personal balance sheet
Replies (1)
Hello,
If you are buying a new vehicle(car), then entry is:
Car Dr.
To Bank
If there's a car loan, then
Car Dr.
To, Car loan A/c
and on daily installment:
Car Loan Dr.
To Bank
If, its not new and you are just introducing it in business then:
Asset Dr.
To Capital account
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