Marigold Company purchases equipment for $2620 and supplies for $510 from Ivanhoe Co. for $3130 cash. The entry for this transaction will include a credit to Cash for Ivanhoe credit to Accounts Payable for Marigold. debit to Equipment $2620 and a debit to Supplies $510 for Marigold. debit to Equipment $2620 and a debit to Supplies Expense $510 for Ivanhoe.
Marigold Company purchases equipment for $2620 and supplies for $510 from Ivanhoe Co. for $3130 cash. The entry for this transaction will include a credit to Cash for Ivanhoe credit to Accounts Payable for Marigold. debit to Equipment $2620 and a debit to Supplies $510 for Marigold. debit to Equipment $2620 and a debit to Supplies Expense $510 for Ivanhoe.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section: Chapter Questions
Problem 6AP
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