Question

Purchased office furniture for $6,000 on account Date Accounts and Explanation Debit Credit Nov. 3 Bright, the owner, withdrew $6,000 cash. Date Accounts and Explanation Debit Credit Nov. 4 Paid $8,000 cash for land Date Accounts and Explanation Debit Credit Nov.5

Answer 1

Date Credit Purchased office furniture for $6,000 on account Account and Explanation Nov. 3 Furniture Accounts Payable (Office furniture purchased on account) Debit $6,000 $6,000 Credit Bright, the owner, withdrew $6,000 cash Date Account and Explanation Nov. 4 Owner's Capital Cash (Cash withdrawl by owner) Debit $6,000 $6,000 Credit Paid $8,000 cash for land Date Account and Explanation Nov. 4 Land Cash (Cash paid for Land) Debit $8,000 $8,000

Note: If you have drill down option are given then it might be possible that the exact wordings of journal do not match because I don't know what option is given to you there on drill down. So manage that accordingly.

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