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    jam1023joy's Avatar
    jam1023joy Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 30, 2012, 01:54 AM
    Purchase furniture on account with down payment
    How will I place in journal if I purchase a furniture on account worth 80,000 and have a down payment of 40,000
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jul 1, 2012, 04:05 AM
    Quote Originally Posted by jam1023joy View Post
    how will i place in journal if i purchase a furniture on account worth 80,000 and have a down payment of 40,000
    How difficult is this
    You have a creditor of 80000
    You have a payment of 40000

    Please?
    joshmathews's Avatar
    joshmathews Posts: 10, Reputation: 1
    New Member
    		  
    #3

    Jul 2, 2012, 05:19 AM
    Furniture a/c Dr.
    To cash a/c
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