Prepare a journal entry for the purchase of office equipment on October 27 for $31,550, paying $7,100 cash and the remainder on account Refer to the Chart of Accounts for exact wording of account titles CHART OF ACCOUNTS General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Office Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Automobiles LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 24 Salaries Payable EQUITY 31 John Doe, Capital 32 John Doe, Drawing REVENUE 41 Fees Earned 42 Sales Commission EXPENSES 51 Advertising Expense 52 Automobile Expense 53 Insurance Expense 54 Rent Expense 55 Salary Expense 56 Supplies Expense 57 Utilities Expense 58 Miscellaneous Expense

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Prepare a journal entry for the purchase of office equipment on October 27 for $31,550, paying $7,100 cash and the remainder on account  Refer to the Chart of Accounts for exact wording of account titles  CHART OF ACCOUNTS General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Office Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Automobiles LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 24 Salaries Payable EQUITY 31 John Doe, Capital 32 John Doe, Drawing REVENUE 41 Fees Earned 42 Sales Commission EXPENSES 51 Advertising Expense 52 Automobile Expense 53 Insurance Expense 54 Rent Expense 55 Salary Expense 56 Supplies Expense 57 Utilities Expense 58 Miscellaneous Expense

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Prepare a journal entry for the purchase of office equipment on October 27 for $31,550, paying $7,100 cash and the remainder on account. Refer to

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