Accounting English(part3).ppt

* * * * * * * * * * * * * * * * * * * * * * Answer 2 (e) Borrowed $1,000 from a supplier, giving word to repay the loan in 30 days. Assets= Liabilities + Capital Balance+$8,850 +$850 +$8,000 Notes payable +$1,000 cash +$1,000 Balance+$9,850 +$1, 850 +$8,000 Answer 2: (f) Paid creditor $200 on account (part payment). Assets= Liabilities + Capital Balance+$9,850 +$1, 850 +$8,000 accounts payable -$200 Cash -$200 Balance+$9,650 +$1,650 +$8,000 Answer 2 (g) Purchased equipment for $800, gi