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majax79
Sep 30, 2007, 11:02 PM
Here's the journal entry I need to make for accounting I college class:

Paid $1,500 cash on amount owed on truck.

Debit = ?
Credit = Cash 1,500

I can't figure out what account I would debit. I'm thinking accounts payable?

CaptainForest
Oct 1, 2007, 10:51 PM
Dr. Accounts Payable 1,500
Cr. Cash 1,500