question 10 of 10: if an owner purchased a $30,000 truck for the business with cash, what accounts would be…

question 10 of 10: if an owner purchased a $30,000 truck for the business with cash, what accounts would be debited and credited? a) truck is debited and cash is credited b) cash is debited and truck is credited c) truck is debited and stockholders equity is credited d) stockholders equity is debited and truck is credited

question 10 of 10: if an owner purchased a $30,000 truck for the business with cash, what accounts would be debited and credited? a) truck is debited and cash is credited b) cash is debited and truck is credited c) truck is debited and stockholders equity is credited d) stockholders equity is debited and truck is credited

Answer

Answer:

A. Truck is debited and Cash is credited

Brief Explanations:

In accounting, when a business acquires an asset (truck) by paying cash, the asset account (Truck) is debited to increase its balance, and the cash account is credited to show a decrease in cash due to the payment.