How should:confused: I record the following transaction in T-account:
Purchase of $20,000 of equipment paying $18,600 cash and trading in old equipment with a recorded cost of $1,400.


Thank you for your help

Paula

You would need to use two separate t-accounts. In equipment, debit 20,000 and credit 1,400. Then in cash credit 18,600.

I agree with Kong.