Ask Question
8 August, 01:33

A company purchased equipment for use in the business at a cost of $36,000, one-fourth was paid in cash, and the company signed a note for the balance. The journal entry to record this transaction will include a:

+2
Answers (1)
  1. 8 August, 03:22
    0
    1. Dr Equipment 36000

    Cr Cash 9000

    Cr Notes payable 27000

    (To record entry of equipment purchase on cash and on promissory note)

    Explanation:

    Equipment = 36000

    Paid in cash = 36000 / 4 = 9000 and balance 36000-9000=27000 to be signed promissory note.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company purchased equipment for use in the business at a cost of $36,000, one-fourth was paid in cash, and the company signed a note for ...” 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