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    samiam10's Avatar
    samiam10 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 18, 2010, 04:20 PM
    How would I post purchased a truck, paid some cash and put the balance on account?
    A company purchased a truck for $12,000, paying 5,000 in cash, and the balance on account?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jul 23, 2010, 07:39 AM

    Debit Truck for the total amount
    Credit Cash for the amount of cash paid
    Credit Accounts Payable for the difference
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