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What kind of Journal entry for purchased 70000 in equipment paid 20000 cash and remainder will be paid in six months?
Wiki User
∙ 9y ago
debit purchases 70000
credit cash 20000
credit Accounts Payable 50000
Wiki User
∙ 9y ago
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How would you enter the following data into a T account in a journal entry Purchased equipment for 9000 Paid 1500 cash and the balance was 375 dollars for 20 months?
Debit Equipment 9000 Credit Cash 1500 Credit Account payable 7500
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