Which account does vehicle expense go to between owner's equity and assets ?
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This Accounting Basics tutorial discusses the five account types in the Chart of Accounts. We define each account type, discuss its unique characteristics, and provide examples.
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Having a good understanding of these account types is a prerequisite to reading financial reports and posting transactions in the accounting system
The five account types are: Assets, Liabilities, Equity, Revenue (or Income) and Expenses
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