Homework Help: Accounting

Posted by Anonymous on Sunday, April 25, 2010 at 1:16pm.

Janfer Book Store purchased a new automobile that cost $10,000, made a down payment of $3,000, and signed a note payable for the balance. The entry to record this transaction is:
Cash 3,000.00
Note Payable7,000.00
Automobile 10,000.00
Cash 3,000.00
Automobile 3,000.00
Automobile 10,000.00
Cash 3,000.00
Janfer, Capital 7,000.00
Automobile 3,000.00
Cash 3,000.00
Automobile 10,000.00
Note Payable 7,000.00
Cash 3,000.00

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