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How do you input a journal entry for a sale of equipment with a 90 day note?
Wiki User
∙ 9y ago
debit notes receivable
credit sales account
Wiki User
∙ 9y ago
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How do you input a journal entry for the sale of equipment to include a 90 day promissary note?
Debit promissory noteCredit sale of asset
How do you do a journal entry for sale of equipment with a promissary note?
debit equipment accountcredit promisary note
What did a journal entry from the year 1492 look like?
A journal looks like folder, note book ,and a diary
What the journal entry to record a note payable?
debit Cashcredit notes payable
How to pass the entry against credit note in our accounts?
In order to credit a customer in the account, a credit note must be issued. After that is done, a journal entry can be made to indicate the credit.
What is the journal entry to made a down payment of cash and issued note payable?
cash book
What is journal entry to write off note payble?
Debit notes payableCredit cash /bank
What is the solution to P14-6 intermediate accounting 12th edition?
At January 1, 2011, Brant Cargo acquired equipment by issuing a five-year, $150,000 (payable at maturity), 4% note. The market rate of interest for notes of similar risk is 10%. Required: 1. Prepare the journal entry for Brant Cargo to record the purchase of the equipment. 2. Prepare the journal entry for Brant Cargo to record the interest at December 31, 2011. 3. Prepare the journal entry for Brant Cargo to record the interest at December 31, 2012.
What is the journal entry for issued a note payable?
debit accounts payablecredit notes payable
How do you make a journal entry recording an annual interest payment on a note payable?
debit interest expensecredit notes payable
What is the journal entry to record accrued interest income from note receivable?
[Debit] Accrued interest income [Credit] Notes payable
What is the journal entry for borrow from bank and signed note payable in return?
Entry 1 [Debit] Cash xxxx [Credit] Bank xxxx Entry 2 [Debit] Bank xxxx [Credit] Notes payable xxxx
