how to journalize Mr. Morales bought a computer for his business worth Php 30,000,giving at Php5,000 downpayment and issued 5%note for the balance payable next month.
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computer a/c dr....30000
to cash 5000
to bill for computer 25000
(being computer purchase on down paymt)
bill for computer 25000
intrest 1250
to cash 26250
(being computer down payment with intrest paid)
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