On February 5, Textron Stores purchased a van that cost $35,000. The firm made a down payment of $5,000 cash and signed a long-term note payable for the balance. What the general journal entry look like
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On February 5, Textron Stores purchased a van that cost $35,000. The firm made a down payment of $5,000 cash and signed a long-term note payable for the balance. What the general journal entry look like
Debit Vehicle for 35,000
Credit Cash for 5,000
Credit Notes Payable for 30,000
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