View Full Version : Purchased supplies on a note
tironsperhall
Apr 27, 2008, 11:37 AM
Year 2008, purchased $175 of supplies by using a 6 month note that matures on April 1,2009
What's the journal entry for this
delite
Apr 27, 2008, 09:06 PM
year 2008, purchased $175 of supplies by using a 6 month note that matures on april 1,2009
whats the journal entry for this
Quick entry would be to (dr) purchases/second part is credit notes payablel.
At maturity, debit notes payable;credit cash
jan96ken
Apr 27, 2008, 09:13 PM
year 2008, purchased $175 of supplies by using a 6 month note that matures on april 1,2009
whats the journal entry for this
Supplies debit $175.00
Notes Payable credit $175.00