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Which of the Following Is the Appropriate Journal Entry If

Question 151

Multiple Choice

Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000?


A) Debit to Cash,debit to Equipment,credit to Notes Payable.
B) No entry should be made.
C) Debit to Equipment,credit to Notes Payable,credit to Cash.
D) Debit to Cash,debit to Notes Payable,credit to Equipment.
E) Debit to Equipment,debit to Notes Payable,credit to Cash.

Correct Answer:

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