My company has just bought a car. The breakdown is as below:
cost of the car = 50000
Interest = 15000
Registration fee = 500
Road tax (first year) = 1800
Please show me the correct entries in the books
Thank you
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Answer Posted / manoj kumar
car a/c..... dr Rs 50000
interest a/c ...Rs 15000
registration fee Rs 500
road tax Rs 1800
To cash a/c Rs 67300
( Being the car purchased and capitilizes exp)
| Is This Answer Correct ? | 22 Yes | 7 No |
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