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The Purchase of a Building with a Cash Down Payment

Question 15

Multiple Choice

The purchase of a building with a cash down payment and a written promise to pay the balance in the future would include a:


A) credit to Cash and a credit to Note Payable
B) debit to Note Payable and a credit to Cash
C) debit to Cash and a credit to Buildings
D) debit to Cash and a debit to Note Payable

Correct Answer:

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