Asset purchased on personal credit card

ArulArul New MemberPosts: 8Registered

My client is a sole trader!

He has purchased new car for business but has paid for it on this personal credit card. The balance of the car is still outstanding but he can not confirm how much of the balance on the credit card relates to the car as he has used the card for other personal items.

My question is how would i bring this new business asset into his accounts shall I just debit - the vehicle ac and credit capital introduced.



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