We purchase a truck for $10,000 We pay $2,000 down and put the rest on Accounts Payable

Fantastic news! We've Found the answer you've been seeking!

Question:

We purchase a truck for $10,000 We pay $2,000 down and put the rest on Accounts Payable How does the journal entry look

Related Book For answer-question

Personal Financial Planning

ISBN: 978-1111971632

13th edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

See More Books

Posted Date: Sep 15, 2020 12:15 AM

See More Questions

Question 1. This question is based on a journal article that appeared in the New England Journal of Medicine: Gawande AA et al., "Risk factors for retained instruments and sponges after surgery."...
Determine the x-, y-, and z-coordinates of the mass center of the body constructed of three pieces of uniform thin plate which are welded together. Answers: R x = y= p IN T 210 mm. Z -220 mm 50 mm mm...
How much would you have to put down on a house costing $100,000 if the house had an appraised value of $105,000 and the lender required an 80 percent loan-to-value ratio?
Cummings Corp. has three business segmentsthe Plumbing Parts division, Small Tools division, and Design Printing division. Carol Jenkins (Cummings' CFO) and William Samuels (head of Production) would...
Air enters a compressor steadily at the ambient conditions of 100 kPa and 22C and leaves at 800 kPa. Heat is lost from the compressor in the amount of 120 kJ/kg and the air experiences an entropy...
Consider the system with the loop transfer functions When K = 10, find T(s) and estimate the expected percent overshoot and settling time (with a 2% criterion). Compare your estimates with the actual...
What is the best analysis path for breaking down a spectrum with a large number of peaks?
Henderson Fishing Charters has collected the following data for the December 31 adjusting entries: 2. Journalize the subsequent journal entries for adjusting entries a, d, and g. a. The company...
Write a script that does the following: Defines a variable, N = 1000 Generates a vector of N random samples from a normal (Gaussian) distribution with a mean of 100 and standard deviation of 10....
On March 1, Marigold Inc sells 1,400 common shares to its employees at $26 per share and lends the money to the employees to buy the new shares in exchange for a note receivable The employees pay 45...
Write HTML and CSS code to create a simple webpage layout with a header, navigation bar, content area, and footer.
Explain and apply positive and otheroriented tone in business messages.
Apply principles for writing effective emails.
Develop your primary message and key points in the AIM planning process.
Describe the interpersonal communication process and barriers to effective communication.
Think of three business (or school) situations that require assertiveness. Describe how you can be assertive and also civil at the same time.
1. Program a function that calculates the integrand. 2. Use the MATLAB quad function in order to calculate the integral numerically. The length L of the main supporting cable of a suspension bridge...
Inexhaustible collections of ONPOs are not required to be capitalized or depreciated, if certain criteria are met. Why is this so, and what accounting and reporting recognition, if any, is required...
What are the key provisions of COBRA? How do they relate to continuation of group coverage when an employee voluntarily or involuntarily leaves the insured group?
Kristin Simon needs to borrow $4,000. First State Bank will lend her the money for 12 months through a single-payment loan at 8 percent, discount; Home Savings and Loan will make her a $4,000,...
What types of assistance and tax preparation services does the IRS provide?
3.0 eV photons excite a gas of atoms from their ground state to then = 3 excited state. The atoms are then observed emitting 2.0 eV photons. Using what you learned in the table above, what other...
Which metals in Table 28.1 exhibit the photoelectric effect for (a) light with $\lambda=400 \mathrm{~nm}$ and (b) light with $\lambda=250 \mathrm{~nm}$ ? TABLE 28.1 The work functions for some...
A $20 \mathrm{MeV}$ alpha particle is fired toward a ${ }^{238} \mathrm{U}$ nucleus. It follows the path shown in Figure P29.53. What is the alpha particle's speed when it is closest to the...

We purchase a truck for $10,000 We pay $2,000 down and put the rest on Accounts Payable

Question:

Expert Answer:

DATE PARTICULARS AMOUNT AMOUNT Truck Fixed Assets 10000 Dr To Cash Bank 2000 Cr To Am... View the full answer

Personal Financial Planning

Students also viewed these accounting questions