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  2. Example 2 – Purchasing equipment journal entry Purchased equipment for $650,000 in cash. DR Equipment 650,000 CR Cash 650,000 To learn more, launch our free accounting courses. Example 3 – Purchasing inventory journal entry Purchased inventory costing $90,000 for $10,000 in cash and the remaining $80,000 on the account.
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    Purchase of equipment journal entry

    • 1. Asset purchase When you first purchase new equipment, you need to debit the specific equipment (i.e., asset) account. And, credit the account you pay for the asset from. ...
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      WEBUpdated: 11/21/2023. Table of Contents. What is a Purchase Journal in Accounting? How To Record Purchases in a Purchase Journal. Purchase Journal Entry. Purchase Journal Examples....

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