Multiple Choice
A company purchased equipment for use in the business at a cost of $36,000,one-fourth was paid in cash,and the company signed a note for the balance.The journal entry to record this transaction will include a:
A) debit to Notes Payable of $27,000.
B) debit to Cash of $36,000.
C) credit to Notes Payable of $27,000.
D) debit to Equipment of $9,000.
Correct Answer:
Verified
Correct Answer:
Verified
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