Prepare a journal entry for the purchase of a truck on April 4 for $85,700, paying $15,000 cash and the remainder on account. Omit explanation.

Purchase

The act of obtaining goods or services in exchange for money, other goods, or services.

Truck

A motor vehicle designed to transport cargo, varying in size, power, and configuration, significant in commercial transportation and logistics.

Acquire and put into practice the methodology of entering transactions across different business situations.

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Learning Objectives

Acquire and put into practice the methodology of entering transactions across different business situations.