Mr South made an electronic funds transfer from his personal bank account to pay for a motor vehicle for his brick manufacturing business. The cost price of the vehicle was R99 000. Which two accounts in the general ledger of the business will be affected by this transaction?

Question

Mr South made an electronic funds transfer from his personal bank account to pay for a motor vehicle for his brick manufacturing business. The cost price of the vehicle was R99 000.  Which two accounts in the general ledger of the business will be affected by this transaction?

Accepted Answer

motor vehicles account and capital account

Answer

capital account and bank account

Answer

motor vehicle account and loan account

Answer

capital account and drawings account

Crowdly

Mr South made an electronic funds transfer from his personal bank account to pay...

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