Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Journalizing an account with a loan involved (https://www.askmehelpdesk.com/showthread.php?t=121253)

  • Aug 20, 2007, 11:44 AM
    Ash998stew
    Journalizing an account with a loan involved
    OK this is my h/w question. Some background info. Put yourself as the backyard store

    ? Jan 11-The Backyard Store issues check # 2646 for $5113 to Wolf Motors for the purchase of a delivery truck. In addition, The backyard store signs a $32,000, 60-month, 9% truck loan for the balance of the purchase price. THe monthly payments on the note are $664 and the first payment is due on Feb. 1, 2007.

    How would I journalize this? And what accounts would I use? Help I'm confused
  • Aug 20, 2007, 04:09 PM
    CaptainForest
    Please make an attempt at your homework.

    After you do that, we will assist you.

  • All times are GMT -7. The time now is 05:50 AM.