Campus Computers purchased office equipment for $8,000 and paid the full amount in cash. What is the journal entry for the purchase?
PP&E (A) (inc) $8,000
…Accrued Expenses (L) (inc) $8,000
PP&E (A) (inc) $8,000
…Cash (A) (dec) $8,000
Cash (A) (dec) $8,000
…PP&E (A) (inc) $8,000
PP&E (A) (dec) $8,000
…Cash (A) (inc) $8,000
Correct answer. The increase in PP&E, an Asset account, should be debited on the left side with the appropriate dollar amount. The decrease in Cash, an Asset account, should be credited on the right side with the appropriate dollar amount.