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-   -   Recording a business tranction (https://www.askmehelpdesk.com/showthread.php?t=254508)

  • Aug 29, 2008, 04:39 PM
    jaion1014
    recording a business tranction
    If I purchased equipment for 1900 and I paid 500 down and owe the balance, how will I work the equation.
  • Oct 18, 2008, 04:45 PM
    pready

    The journal entry will be:

    Debit Equipment for 1900
    Credit Cash for 500
    Credit Accounts Payable for 1200

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