JournaldrillEquipment bought with cash and credit
A journal entry exercise from Journaldrill. Solve it with an account picker and debit and credit fields in your browser, and it is checked the moment you submit.
The task
Harbor Print Shop buys a large-format printer for $9,000. It pays $3,000 in cash today and agrees to pay the remaining balance to the supplier in 30 days.
What this exercise teaches
The printer is a long-lived asset recorded at its full cost of $9,000. Cash decreases by the $3,000 paid, and the unpaid $6,000 is an informal obligation to the supplier, so it goes to Accounts Payable. No note was signed, so Notes Payable is not used.
A hint if you get stuck
Record the full cost of the new asset, then split the credit between what was paid now and what is still owed.
Try it now, no account needed
This exercise is free. Open it on the practice page, solve it, and get instant feedback with a hint and a worked solution after two tries.
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