Prepare a journal entry for the purchase of a truck on April 4 for $63,730, paying $5,300 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Office Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Building 18 Truck LIABILITIES 21 Accounts Payable 22 Unearned Revenue 23 Notes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends REVENUE 41 Fees Earned EXPENSES 51 Wages Expense 53 Rent Expense 54 Utilities Expense 55 Maintenance Expense 59 Miscellaneous Expense
Prepare a journal entry for the purchase of a truck on April 4 for $63,730, paying $5,300 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Office Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Building 18 Truck LIABILITIES 21 Accounts Payable 22 Unearned Revenue 23 Notes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends REVENUE 41 Fees Earned EXPENSES 51 Wages Expense 53 Rent Expense 54 Utilities Expense 55 Maintenance Expense 59 Miscellaneous Expense
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 10PB: Prepare journal entries to record the following transactions. Create a T-account for Accounts...
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Prepare a journal entry for the purchase of a truck on April 4 for $63,730, paying $5,300 cash and the remainder on account. Refer to the Chart of Accounts for exact wording of account titles.
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