A company received $2,000 of equipment and promised to pay for it next month. The increase in equipment would be recorded with a ______ to the Equipment account.

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09-02-2022
Business

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A company received $2,000 of equipment and promised to pay for it next month. The increase in equipment would be recorded with a ______ to the Equipment account.

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Tundexi Tundexi · Answer 1 · 2022-02-22T12:21:11+01:00

An increase in the equipment would be recorded with a debit to the Equipment account on the journal entry.

What is Equipment account in journal entry?

in journal entry, an Equipment account is used to record the amount spent or received on any equipment.

In conclusion, the increase in the equipment would be recorded with a debit to the Equipment account on the journal entry.

Increase in equipment

Based on the information given if the company received the amount of $2,000 of equipment the increase in equipment would be recorded with a debit to the Equipment account.

The appropriate journal entry to record the transaction will be:

Journal entry

Debit Equipment $2,000

Credit Cash $2,000

(To record equipment)

Inconclusion the increase in equipment would be recorded with a debit to the Equipment account.

Learn more about journal entry here:https://brainly.com/question/14279491