How would I post purchased a truck, paid some cash and put the balance on account? [Archive]

samiam10

Jul 18, 2010, 04:20 PM

A company purchased a truck for $12,000, paying 5,000 in cash, and the balance on account?

pready

Jul 23, 2010, 07:39 AM

Debit Truck for the total amount
Credit Cash for the amount of cash paid
Credit Accounts Payable for the difference