Question

bought a motor van of $500

Answer 1

Answer:

the journal entry is follow:-

Explanation:

motor van Account debit

to cash account

Answer 2

Answer:motor van a/c debit -------500--------

To cash a/c --------------500

Explanation:

Motor van is an asset and its a real account

Real account rule is debit what comes in

And credit what goes out

As here motor van is an asset purchase which comes in business and cash which goes out of business and treated as expenses