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Your company buys a $2 million warehouse paying $300,000 in cash and issuing $1.7 million in promissory notes. This will be posted as: $2 million
Your company buys a $2 million warehouse paying $300,000 in cash and issuing $1.7 million in promissory notes. This will be posted as: $2 million credited and $300,000 debited to assets; $1.7 million debited to liabilities. $2 million debited to assets and $2 million credited to liabilities. $2 million debited and $300,000 credited to assets; $1.7 million credited to liabilities. $2 million credited to assets and $2 million debited to liabilities
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