Anew forklift is purchased for $10,000 with $2,000 down in cash and the remainder due in 60 days. the journal entry would include:

A journal entry must always have at least one debit and one credit. The journal entry would include: a credit of $2,000 because that was already paid and $8,000 would be listed under debit, because it's remainder owed.

Acreditor is an entity or person that lends money or extends credit to another party. a debtor is an entity or person that owes money to another party.