Purchased Equipment On Account & Cash Journal Entry
A company can purchase office equipment on account and it is the case of purchase of office equipment on account or on credit. The Journal Entry should be the debit to office equipment accou nt and credit to the Accounts Payable Account . For example, if the company purchased office equipment for its main office / head office of Rs. 50000 from its supplier, A & Co., then the entry to record office equipment in the B ook or Journal of company is shown below: Office Equipment a/c 50000 A& Co. 50000 ...