Question: Ignoring GST, what is the correct entry to record the purchase of a motor vehicle for $25 000 cash? 1.Debit bank $25 000; credit motor

Ignoring GST, what is the correct entry to record the purchase of a motor vehicle for $25 000 cash? 1.Debit bank $25 000; credit motor vehicles $25 000 2.Debit motor vehicles $25 000; credit bank $25 000 3.Debit motor vehicles $25 000; credit capital $25 000 4.Debit motor vehicles $25 000; credit accounts receivable $25 000

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