Multiple Choice
A business bought a new delivery truck worth $45,000.They paid $5,000 down and took out a loan for the balance.How would the transaction be recorded?
A) Dr.Capital assets $45,000, Cr.Cash $5,000, Cr.Bank loan $40,000
B) Dr.Capital assets $40,000, Cr.Bank loan $40,000
C) Dr.Cash $5,000, Dr.Bank loan $40,000, Cr.Capital asset $45,000,
D) Dr.Bank loan $40,000, Cr.Capital assets $40,000,
Correct Answer:
Verified
Correct Answer:
Verified
Q38: Li Chan is a friend of yours
Q39: A company reported net income of $22,500,
Q40: Which of the following is a temporary
Q41: If a company reports a loss for
Q42: Use journal entries to record the following
Q44: Which of the following normally has a
Q45: Which of the following best describes the
Q46: Identify three different points in time that
Q47: Accumulated depreciation is an example of which
Q48: Which of the following would cause the