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Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchases a vehicle through cheque?
Asset accounts, a debit increases the balance and a credit decreases the balance.Whenever an accounting transaction happens, a minimum of two accounts is always impacted, with a debit entry being recorded against one account and a credit entry being recorded against another account . Bank account will be credited in the books of XYZ Co. Ltd, if the business purchases a vehicle thriugh cheque.
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