What goes into the cash account & cash account balance on the right hand side of

Question

What goes into the cash account & cash account balance on the right hand side of the check? and also what goes into the expense account at the bottom as well as the "memo" area?

Now that you have finished downloading and installing the company data file for iCandy, you are ready to use Peachtree. However, before you start entering transactions into Peachtree, you want to make sure that you understand how a transaction is typically entered into the Write Checks window. The very first transaction that you will have to record is a cash payment transaction. On May 1, 2011, Check No. 4080 was issued to 'Office Equipment Warehouse' for the cash purchase of $1,900.00 worth of office equipment. Instructions: Enter the given transaction into the replica of the Write Checks window provided below. Note that Office Equipment Warehouse is not a vendor that the business uses regularly and therefore has not been set up as a vendor in your company data files. Therefore there is no vendor ID for this supplier. Please be careful when entering the name of the supplier into the Write Checks window because it must match the name written on the actual check. Note also that, at this stage, you are only to input the transaction details into the replica window provided. This will allow us to provide you with feedback on how proficient you are in using Peachtree before you enter any transactions directly into Peachtree for iCandy. Enter any dollar values in dollars and cents to the nearest cent. Remember: The Quick reference guided is designed to assist you in completing the above task successfully. Ensure that you refer to this guide as you complete the requirements for this page. If you need any help in completing those tasks, you can review the appropriate topics in the Peachtree Learning Center

Explanation / Answer

What goes into the cash account $1900.00 credit

& cash account balance on the right hand side of the check? this field should populate on its own

and also what goes into the expense account at the bottom $1900.00 debit to Office Equipment (asset account)

as well as the "memo" area?For purchase of office equipment

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