How to make journal entry for: Purchased delivery vehicle( delivery equipment wi

Question

How to make journal entry for: Purchased delivery vehicle( delivery equipment with useful life five years) with cash from Elizabeth Barrett’s car dealership, the list price of the truck was $18,000, but we only paid $15,000 when we discovered that the paint was browning. How to make journal entry for: Purchased delivery vehicle( delivery equipment with useful life five years) with cash from Elizabeth Barrett’s car dealership, the list price of the truck was $18,000, but we only paid $15,000 when we discovered that the paint was browning. Purchased delivery vehicle( delivery equipment with useful life five years) with cash from Elizabeth Barrett’s car dealership, the list price of the truck was $18,000, but we only paid $15,000 when we discovered that the paint was browning.

Explanation / Answer

Journal entry Debit Credit Delivery equipment 15000                     Cash 15000

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