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alukav5142 [94]
3 years ago
5

Carl cornfield purchases equipment. After reducing the cash line, where else would carl put an entry for his purchase?

Mathematics
1 answer:
larisa86 [58]3 years ago
7 0

The entry should be put in the Equipment assets.

Step-by-step explanation:

Assets are those resources used in the business to help in generation of revenue and profits. When an equipment is purchased it should appear on the balance sheet as a debited asset account. This will increase the asset account.Same amount is credited in the cash account.

Learn More

  • Entry for Equipment  purchase : brainly.com/question/1417746

Keywords: cash line, equipment , purchase

#LearnwithBrainly

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Step-by-step explanation:

1) Amount Credited

The formula to calculate the amount credited =

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b) Outstanding balance = Invoice - Amount credited

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Answer:

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Step-by-step explanation:

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