on july 1, 2026, apache company sold and delivered to a customer a large piece of equipment for $3,000 (on…

on july 1, 2026, apache company sold and delivered to a customer a large piece of equipment for $3,000 (on account). the cost to manufacture the equipment was $1,200. record the journal entry to recognize revenue for the sale of the equipment. note: if no entry is required for a transaction or event, select \no journal entry required\ in the first - account field. ignore the cost of the equipment. view transaction list journal entry worksheet < a record the sale of equipment on account. note: enter debits before credits. transaction general journal debit credit 1

on july 1, 2026, apache company sold and delivered to a customer a large piece of equipment for $3,000 (on account). the cost to manufacture the equipment was $1,200. record the journal entry to recognize revenue for the sale of the equipment. note: if no entry is required for a transaction or event, select \no journal entry required\ in the first - account field. ignore the cost of the equipment. view transaction list journal entry worksheet < a record the sale of equipment on account. note: enter debits before credits. transaction general journal debit credit 1

Answer

Explanation:

Step1: Identify accounts affected

When selling on - account, accounts receivable (an asset) increases and revenue (income statement account) increases.

Step2: Determine debit and credit

Debit accounts receivable to record the amount owed by the customer. Credit sales revenue to recognize the revenue from the sale.

Transaction General Journal Debit Credit
1 Accounts Receivable 3000
Sales Revenue 3000

Answer:

Transaction General Journal Debit Credit
1 Accounts Receivable 3000
Sales Revenue 3000