jeremy500071
Oct 30, 2008, 08:26 AM
This is how the question reads. Purchased used atuomobile for 16,500 and paid cash payment of 1500 dollars and put the gave the rest on notes payble. Does the T account look like this.
Automobile Notes Payable Accounts Payable
Debit Credit Debit Cedit Debit Credit
16,5000 15,000 1500
Automobile Notes Payable Accounts Payable
Debit Credit Debit Cedit Debit Credit
16,5000 15,000 1500