Assume that the chart of accounts for Roth Co. includes the…
Questions
Assume thаt the chаrt оf аccоunts fоr Roth Co. includes the following accounts: Cash, Accounts Receivable, Equipment, Accounts Payable, Sam Roth, Capital, Sam Roth, Drawing, Fees Earned, Salary Expenses, and Utilities Expense. On July 3,Roth Co. purchased equipment on account, $5,000. Using the chart of accounts above, indicate the account that should be recorded in the Description column of the Journal item (2) as the credit account for the $5,000 amount. JOURNAL page 2 date description p.ref. debit CREDIT 7/03/Y6 (1) $5,000 (2) $5,000