Ask Question
19 January, 01:59

Prepare a journal entry for the purchase of a truck on april 4 for $85,700, paying $15,000 cash and the remainder on account. refer to the chart of accounts for exact wording of account titles.

+3
Answers (1)
  1. 19 January, 02:17
    0
    To prepare a journal entry in this transaction you first need to know what is the main transaction in this entry. First on April 4, a debit for truck for $85,700 and then you pay for the amount of $15,000 so, credit for cash for $15,000 and accounts payable for 70,700.

    April 4 Truck $85,700

    Cash $15,000

    Accounts payable $70,700
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Prepare a journal entry for the purchase of a truck on april 4 for $85,700, paying $15,000 cash and the remainder on account. refer to the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers