[davis2008]

Thank you Captain Forest for helping me out now I have two more problems. The transaction is Paid magic's restaurant on account $ 25,700.00. Should it be food expense $25,700.00 on the debit side and accounts payable $ 25,700.00 on the credit or accounts Payable $25,700. 00 on the debit side and the food expense $ 25,700.00 on the credit side.

The second problem Roger construction completed work on a new basketball court that cost $12,000.00. Arrangements were made to pay the bill in July, how can I post this transaction on the general ledger sheet?

Please help.

[CaptainForest]

Problem 1:
So you paid some restraint 25,700 for whom you owed money..

Therefore the JE would be
Dr. AP 25,700
Cr. Cash 25,700

(when you got the bill, you already Dr. Expense, Cr. AP)



Problem 2:
Dr. PPE (Basketball court)/Asset 12,000
Cr. AP – Roger 12,000