Journal entries for sold personal car of the proprietor for Rs 80000 against cheque, which was deposited into the firm's bank account.
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Personal car does not belong to the business since its a personal property. therefore the bank account of the firm will be debited by 80000 since the payment for the car was made into the firm's account. the buyer of th car will credit is bank by 80000 due to the purchase of the car by cheque.... kindly mark this as the brainliest
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Cash A/C Dr. 80,000
To capital A/C 80,000
( Being capital introduced in business )
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