2 Post the transaction to the four-column ledger account and cross-reference the posting back to the journal entry Journal Page 1 Date Accounts and Explanation Post. Ref Debit Credit 2016 Nov. 1 Equipment 40,000 Notes Payable 40,000 Purchased equipment with o note. Equipment Account No. 120 Balance Date Item Post. Ref Debit Credit Debit Credit 2016 Notes Payable Account No. 220 Balance Date Item Post. Ref Debit Credit Debit Credit 2016