debit equipment account
credit donation
debit equipment account
credit donations
Debit cash / bankCredit equipment
debit equipmentcredit accounts payable
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
[Debit] Equipment account [Credit] Cash / bank
debit donationcredit fixed asset
Debit cash / bankCredit equipment
debit equipment accountcredit cash / bank
debit equipmentcredit accounts payable
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
[Debit] Equipment account [Credit] Cash / bank
[Debit] Debt Account xxxx [Credit] Asset/Equipment xxxx
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
debit donationcredit fixed asset
A journal records what you're findings are
You record he credit entry for transaction (a) 5/1 in the journal as
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
debit drawingscredit equipment