I need help with a journal entry posting for my accounting assignment. I am asked to post this transaction to the journal entry:
Oct. 3 Purchased repair equipment from Conklin Company, $4,400. Paid $600 down and the balance was
Placed on account. Payments will be $200.00 per month for nineteen months. The first payment is due 11/1.
The accounts I am supposed to use are "Accumulated depreciation, Repair Equipment" and "Depreciation Expense, Repair Equipment" in addition to "Office Equipment" and "Cash".
I would really appreciate your help!