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Crane Company purchases equipment for $2740 and supplies for $510 from Wildhorse Co. for $3250 cash. The entry for this transaction will include a debit to Equipment $2740 and a debit to Supplies Expense $510 for Wildhorse. credit to Accounts Payable for Crane. debit to Equipment $2740 and a debit to Supplies $510 for Crane. credit to Cash for Wildhorse.

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Answer:

Date                    Account Title                                    Debit              Credit

XX-XX-XX           Equipment                                    $2,760

                            Supplies                                       $   500

                            Cash                                                                     $3,250

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