Another Question Go to Table of Contents 3b. The business did not lose a car, it gained one. Another Question Go to Table of Contents 4a. Increase assets with a debit. Another Question Go to Table of Contents 4b.
Automobiles is an asset account.
Increase assets with a debit. Another Question Go to Table of Contents 5a. The business acquired equipment. Another Question Go to Table of Contents 5b. The business gained equipment, it didn't lose it.