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View Full Version : Recording a business tranction

jaion1014
Aug 29, 2008, 04:39 PM
If I purchased equipment for 1900 and I paid 500 down and owe the balance, how will I work the equation.
pready
Oct 18, 2008, 04:45 PM
The journal entry will be:

Debit Equipment for 1900
Credit Cash for 500
Credit Accounts Payable for 1200