PDA

View Full Version : Journal entry

leatherneckharr
Jan 17, 2009, 06:54 PM
What are the journal entries for purchase of building for $800,00 with $400,000 down and a mortgage of $400,000.

Thank you
pready
Jan 17, 2009, 07:27 PM
Debit Building for 800,000
Credit Cash for 400,000
Credit Mortgage Payable for 400,000