Ash998stew
Aug 20, 2007, 11:44 AM
OK this is my h/w question. Some background info. Put yourself as the backyard store
? Jan 11-The Backyard Store issues check # 2646 for $5113 to Wolf Motors for the purchase of a delivery truck. In addition, The backyard store signs a $32,000, 60-month, 9% truck loan for the balance of the purchase price. THe monthly payments on the note are $664 and the first payment is due on Feb. 1, 2007.
How would I journalize this? And what accounts would I use? Help I'm confused
? Jan 11-The Backyard Store issues check # 2646 for $5113 to Wolf Motors for the purchase of a delivery truck. In addition, The backyard store signs a $32,000, 60-month, 9% truck loan for the balance of the purchase price. THe monthly payments on the note are $664 and the first payment is due on Feb. 1, 2007.
How would I journalize this? And what accounts would I use? Help I'm confused