Accountıng Iı Deneme Sınavı Sorusu #1291003

On 31 April 2017, A company purchased equipment for 200.000 TL. The company issued a note for the amount. The note has 8 months maturity and 10% interest rate, and total interest and principal amount is due on maturity.

Which of the following is true about the first journal entry to be made according to this information?


Equipment credited 100.000

Account Receivable debited 100.000

Notes Payable credited 100.000

Short term loan bank credited 100.000

Interest Expense credited 100.000


Yanıt Açıklaması:

When the first journal entry to record the purchase of equipment, equipment 100 will be debited, account payable 100 will be credited.

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