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

    Mar 18, 2007, 01:33 PM
    Debits and credits
    If I am buying a land for $2,000..
    What do I debit, and what do I credit?:confused:
    wontonsnowy's Avatar
    wontonsnowy Posts: 2, Reputation: 1
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    #2

    Mar 18, 2007, 02:03 PM
    Quote Originally Posted by jessicamas
    If I am buying a land for $2,000..
    What do I debit, and what do I credit?:confused:
    Debit assets-land and credit cash or loans depending on how your paying for it
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #3

    Mar 18, 2007, 04:00 PM
    Dr. Land 2,000
    Cr. Cash (if that is what you are using to buy it with) 2,000
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