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    deezerdoo's Avatar
    deezerdoo Posts: 34, Reputation: 2
    Junior Member
    		  
    #1

    Apr 17, 2007, 11:17 AM
    Journal entry
    Martin buys two new saws on credit at $375 each. The saws are added to Martin’s rental fleet; payment is due in 30 days.


    I think the journal entry would look this for this transaction .

    $750 debit, Tool Rental Equipment; $750 credit, Accounts Payable
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Apr 17, 2007, 08:23 PM
    Correct
    Matt3046's Avatar
    Matt3046 Posts: 831, Reputation: 128
    Senior Member
    		  
    #3

    Apr 17, 2007, 09:01 PM
    I agree with the Capt.
    bahan's Avatar
    bahan Posts: 5, Reputation: 1
    New Member
    		  
    #4

    Jun 19, 2008, 04:54 AM
    You are Right
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