Groro Co. Bills a client $62,000 for services provided and agrees to accept the following 3 items as full payment $10,000 cash, equipment worth $80,000 and to assume responsibility for a $28,000 note payable related to the equipment. question: record the transaction in journal entry form. date general journal debit credit
Groro Co. Bills a client $62,000 for services provided and agrees to accept the following 3 items as full payment $10,000 cash, equipment worth $80,000 and to assume responsibility for a $28,000 note payable related to the equipment. question: record the transaction in journal entry form. date general journal debit credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Groro Co. Bills a client $62,000 for services provided and agrees to accept the following 3 items as full payment $10,000 cash, equipment worth $80,000 and to assume responsibility for a $28,000 note payable related to the equipment.
question: record the transaction in
| date | general journal | debit | credit |
general journals are either cash,equipment revenue, supplies, accounts payable, note payable, common stock or revenue
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