Homework Answers
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| Aug 4 | Delivery truck | 4,500 | |
| Cash | 4,500 | ||
| (To record replacement of engine in truck) |
Increase in assets is debited and hence delivery truck will be debited.
Decrease in assets is credited and hence cash will be credited.
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