Question 2.2: Journal Entry for Asset Purchase Prepare a journal entry for......

Financial Accounting [EXP-43430]

Journal Entry for Asset Purchase

Prepare a journal entry for the purchase of a truck on June 3 for $42,500, paying $8,500 cash and the remainder on account.

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June 3 Truck …………………………………………………………. 42,500

Cash …………………………………………………………… 8,500

Accounts Payable ……………………………………. 34,000

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