Log in

View Full Version : How would I post purchased a truck, paid some cash and put the balance on account?


samiam10
Jul 18, 2010, 04:20 PM
A company purchased a truck for $12,000, paying 5,000 in cash, and the balance on account?

pready
Jul 23, 2010, 07:39 AM
Debit Truck for the total amount
Credit Cash for the amount of cash paid
Credit Accounts Payable for the difference