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July 29, 2014

Homework Help: acct. question

Posted by student acc on Tuesday, November 13, 2007 at 5:16pm.

then the next step for the general journal entry says the same thing which both of these are giveing me a hard time.

Purchased land worth $54,000 for an office by paying $5,400 cash and signing a long-term note payable ofr $48, 600.

so, would i place the 54,000 under debit then place cash and as credit place 5,400 then underneath place note payable and place it as credit for 48,600

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