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How do you input a journal entry for the sale of equipment to include a 90 day promissary note?

Anonymous

∙ 10y ago

Updated: 9/22/2023

Debit promissory note
Credit sale of asset

Wiki User

∙ 10y ago

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How do you do a journal entry for sale of equipment with a promissary note?

debit equipment accountcredit promisary note

How do you write Journal entry for equipment rent to somebody?

There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.

What must a journal entry always include?

a journal entry must include atleast one debit and one credit account to be a legal journal entry.

How do you record a journal entry for sale of equipment?

Debit cash / bankCredit equipment

What is a journal entry to buy equipment with common stock?

Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank

Related Questions

How do you do a journal entry for sale of equipment with a promissary note?

debit equipment accountcredit promisary note

How do you write Journal entry for equipment rent to somebody?

There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.

What must a journal entry always include?

a journal entry must include atleast one debit and one credit account to be a legal journal entry.

How do you record a journal entry for sale of equipment?

Debit cash / bankCredit equipment

What is journal entry owner widraws equipment from business?

debit drawingscredit equipment

What is a journal entry to buy equipment with common stock?

Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank

What is the journal entry for selling equipment?

no cash dr and sales cr

What is the journal entry when the owner withdraw equipment for personal use?

debit drawingscredit office equipment

What is the journal entry for paying off an equipment loan?

debit equipment loancredit cash / bank

How do you record a journal entry for donating equipment?

debit equipment accountcredit donation

How do you record a journal entry for a purchace of equipment at a fire sale?

debit equipment accountcredit cash / bank

What is journal entry for equipment purchase made with cash?

debit equipmentcredit cash

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