Company paid cash for equipment

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Reference no: EM131881960

A company paid cash for equipment in the amount of $17,000. Prepare the general journal entry.

DEBIT: Cash for $17,000; CREDIT: Equipment for $17,000

DEBIT: Equipment for $17,000; CREDIT: Depreciation expense for $17,000

DEBIT: Equipment for $17,000; CREDIT: Note Payable for $17,000

DEBIT: Equipment for $17,000; CREDIT: Cash for $17,000

Reference no: EM131881960

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