Dawson's Delivery Service purchased equipment for $2,500. The Company $500 in cash an [Archive]

View Full Version : Dawson's Delivery Service purchased equipment for $2,500. The Company $500 in cash an

no2pa17

Oct 26, 2011, 03:23 PM

Dawson's Delivery Service purchased equipment for $2,500. The Company $500 in cash and signed a note for the balance. Dawson debited the Equipment account, credited Cash and

pready

Oct 26, 2011, 05:33 PM

Debit Equipment for 2,500
Credit Cash for 500
Credit Notes Payable for the difference