debits and credits in accounting?

Question

when posting in accounting, how would you post a company purchasing a used car for cash? what account would be debited, and what account would be credited? remember we paid cash>

Answer 1

Car $100 (Dr)

========= Cash $100 (Cr)

You are exchanging one asset, cash, for another asset, the car. They are both asset accounts with normal (+) debit balances. Here you increase the car asset account by debiting and decrease the cash asset account by crediting.

Answer 2

You're taking cash out of a debit account so you credit cash. Your car is an asset so you debit car.