Question

Journalize the entries for the following transactions: (If an amount box does not require an entry, leave it blank.)

a) Purchase of equipment on credit
b) Sale of goods for cash
c) Depreciation expense
d) Payment of accounts payable

Answer 1

The answer provides journal entries for key transactions such as the purchase of equipment on credit, sale of goods for cash, depreciation expense, and payment of accounts payable, in the context of double-entry bookkeeping within business studies.

Step-by-step explanation:

The request to journalize entries for various transactions such as the purchase of equipment on credit, sale of goods for cash, recording depreciation expense, and payment of accounts payable, falls under the field of accounting, which is an integral part of business studies. Each of these transactions would be recorded in the journal as follows

The journal entries would typically be recorded in the general ledger as part of the double-entry bookkeeping system.