Ask Experts Questions for FREE Help !
Ask
    lavender1220's Avatar
    lavender1220 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 26, 2013, 04:57 AM
    Journal entry- placed an order for a new car rm120,000,no down payment.
    Debit and credit should write what?
    Me not idea..
    Thanks
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Apr 26, 2013, 08:09 AM
    Debit Vehicle and Credit either Notes Payable or Accounts Payable as appropriate
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Journal entry for down payment [ 1 Answers ]

Acquired land and building at a cost of $3,000 and $21,000. A $4,000 down payment was made and an 8% mortgage was signed for the balance. The building has a 20 year life.

Journal entry for customer's account of 50,000 [ 5 Answers ]

Journal entry for customer's account of 50,000

Journal entry for 90 day note/5% on $60,000 [ 1 Answers ]

Winston Co. issued a 90-day note for $60,000 What is journal entry

How to entry this : $30,000 of notes payable are due for payment next year. [ 1 Answers ]

How to entry this : $30,000 of notes payable are due for payment next year. ( since there is $28,700 cash on Trial Balance.)

Cash Payment Journal Entry [ 1 Answers ]

How would I post this transaction... Camo Co issued check# 3412, payable to payroll, in payment of sales salaries, $5,320, and office salaries, $3,150. Cashed the check and paid the employees.

View more questions Search