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I need help with a transaction for my accounting class. I cant figure out which accout it goes to. Help me?


The transaction: Recieved Invoice 5495 for @2,375 microcomputer stystem, for office use, bought on account from T & N School Equipment. I have the debit which is the T & N School Equipment I believe. I cant figure out what the credit is. Can someone help me??

These are the other accounts:

Assets-
Cash in bank
A/R Carla DiSario
A/R George McGarty
Office Supplies
Office Equip.
Instructional Equip

Liab.
A/P Education Software
A/P T & N school equip

Owners Equity
Jennifer Rachael, Capital
Jennifer Rachael, W/D
Income Summary

Revenue
Group lesson fees
Private lesson fees

Expenses
Maintenance expence
Misc. expense
Rent expense
Utilities expense


I only need the debit & the credit for it && I know one of them are the T&N School Equip.

Can someone please help with this transaction?

A/P T & N school equip

Unless it says that it has been paid for in cash, it would be an account payable to T&N.

Debit Equipment and Credit A/P

Office equipment

A/P T & N school equip would be the credit since it was acquired on account, it's a liability.

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