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View Full Version : How can I journalize these entries?


jharg5150
Nov 17, 2008, 04:59 PM
I am stumped I need help on these two accounting entries if someone could please help me.

Aug. 5 Received art equipment transferred to the business from Joan Miller, $6300

Aug. 14 Purchased a copier (office equipment) from Morgan Equipment for $2100, paying $350 in cash and agreeing to pay the rest in equal payments over the next five months.

If anyone can help me I would greatly appreciate it!

pready
Dec 5, 2008, 05:31 AM
Aug 5 Debit Equipment for 6,300
Credit Owner's Equity for 6,300 (If Joan Miller is owner)

Aug 14 Debit Equipment for 2,100
Credit Cash for 350
Credit Notes Payable for 1750