On June 1, 2021, Alan Harper buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will a.make a compound entry. bmake a simple entry. cuse two journal entries. dlist the credit entries first, which is proper form for this type of transaction.

Answered: On June 1, 2021, Alan Harper buys a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On June 1, 2021, Alan Harper buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will

	a	.make a compound entry.
	b	make a simple entry.
	c	use two journal entries.
	d	list the credit entries first, which is proper form for this type of transaction.

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Compound journal entry is that entry in which more than one account is debited or credited to record transaction instead of passing separate entries.

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