Answer:
The question is incomplete find the complete question below;
The following transactions occur for the Panther Detective Agency during the month of July. a....
Question:
The following transactions occur for the Panther Detective Agency during the month of July.
a. Purchase a truck and sign a note payable, $14,100.
b. Purchase office supplies for cash, $510
c. Pay $710 in rent for the current month.
Record the transactions. The company uses the following accounts: Cash, Supplies, Equipment (for the truck), Notes Payable, and Rent Expense.
Purchase of truck
DR Equipment $14,100
CR Notes Payable $14,100
Office supplies
DR Office supllies $510
CR Cash $510
Rent
DR Rent expense $710
CR Cash $710
Explanation:
I have summarized the above transactions by a way of journal entries above,pay particular attention to the accounting headings used as stated in revised question.
