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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 / hemant
Car A/c 50000 Dr.
Interst 15000 Dr.
Registration fee 500 Dr .
Road Tax 1800 Dr.
To Bank/Cash 67300 Cr
( Being amt for the purchases of car and pay the charge )
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