Journal entry for asset purchase Prepare a journal entry for the purchase of office equipment on October 27 for $32,750, paying $6,550 cash and the remainder on account. Prepare a journal entry for...

Journal entry for asset purchase

Prepare a journal entry for the purchase of office equipment on October 27 for $32,750, paying $6,550 cash and the remainder on account.

Prepare a journal entry for the purchase of office supplies on September 30 for $2,500, paying $800 cash and the remainder on account.