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-   -   Journalizing transactions (https://www.askmehelpdesk.com/showthread.php?t=418368)

  • Nov 22, 2009, 01:58 PM
    superfly555
    Journalizing transactions
    How would you journalize purchasing a used truck for 10,000, paying 3000 cash and the balance on account
  • Nov 22, 2009, 02:14 PM
    pready

    Debit PP&E - Truck for the total amount
    Credit Cash for the amount paid
    Credit either Accounts Payable or Notes Payable for the difference

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