general ledger

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moha
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general ledger

purchased trucks  for usd 150000, paying usd 120000 cash and giving a 60 day note to the dealer for usd 30000

 

1)prepare genereal ledger account except the retained earnings?

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Ultimate Partner IanChait
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Re: general ledger

Hi @moha

Are you asking for the accounting entry? If purchased trucks for business 

Dr Asset Account - Vehicles   150,000

Cr Bank                                                       120,000

Cr Liability Account - Notes Payable.         30,000

 

I hope this is what you meant.


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

moha
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Re: general ledger

Hi ianchait,

 

Thank you........if i may ask what do you mean by ct 30000

Ultimate Partner IanChait
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Re: general ledger

Hi @moha

 

Should be Cr 30,000.


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

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