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tironsperhall
Apr 27, 2008, 11:37 AM
year 2008, purchased $175 of supplies by using a 6 month note that matures on april 1,2009

whats the journal entry for this

delite
Apr 27, 2008, 09:06 PM
year 2008, purchased $175 of supplies by using a 6 month note that matures on april 1,2009

whats the journal entry for this
quick entry would be to (dr) purchases/second part is credit notes payablel.

at maturity, debit notes payable;credit cash

jan96ken
Apr 27, 2008, 09:13 PM
year 2008, purchased $175 of supplies by using a 6 month note that matures on april 1,2009

whats the journal entry for this


Supplies debit $175.00
Notes Payable credit $175.00