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    no2pa17's Avatar
    no2pa17 Posts: 1, Reputation: 1
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    #1

    Oct 26, 2011, 03:23 PM
    Dawson's Delivery Service purchased equipment for $2,500. The Company $500 in cash an
    Dawson's Delivery Service purchased equipment for $2,500. The Company $500 in cash and signed a note for the balance. Dawson debited the Equipment account, credited Cash and
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 26, 2011, 05:33 PM
    Debit Equipment for 2,500
    Credit Cash for 500
    Credit Notes Payable for the difference
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