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Your company bought a truck on march 23,2013 for $25,000 cash Recor

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your company bought a truck on march 23,2013 for
$25,000 cash. Record the purchase.
So debit cash
Credit equipment? or should the entry be something other
than equipment?
Solution
Answer: Yes, Entry should be something other than
equipment is are as follows:
Truck A/C Dr. $25000
Cash A/C $25000
(Being truck purchased for $25000 cash)

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your company bought a truck on march 23,2013 for $25,000 cash. Record the purchase. So debit cash Credit equipment? or should the entry be something other than equipment? Solution Answer: Yes, Entry should be something other than equipment is are as follows: Truck A/C Dr. $25000 Cash A/C $25000 ...
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