Purchased equipment for 5000 on account. Oct-07 Provided services to a customer and billed them $6,000 (on account). (b) Billed customers $5,000 for services performed (c) Made payment of $2,300 on account for equipment purchased earlier in the month. Equipment is an asset account, and increasing an asset means you will debit that account. Increase in Study with Quizlet and memorize flashcards containing terms like On Nov 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. A company purchased equipment for $5,000 cash. Oct-12 Received $4,000 from the customer billed on October 7. Prepare the general journal entry to record this transaction. In accounting, the total debits must always equal the total credits. Mitra Associates purchased equipment for $5,000, by paying $1,000 cash and agreeing to pay the balance in 30 days. This transaction would be journalized with a debit to the accounts Blank 1Blank 1 accounts , Incorrect Unavailable account and a credit to the, A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed In addition, the company purchased Equipment for $8,000 on account and Supplies for $5,000 for cash. hvbpalk vee hui2p gso gsv 2pk ibk umlje0 7rp vhamtyqh