Multiple Choice
A business purchases equipment by paying $6,276 in cash and issuing a note payable of $19,177. Which of the following occurs?
A) Cash is credited for $6,276, Equipment is credited for $25,453, and Notes Payable is debited for $19,177.
B) Cash is credited for $6,276, Equipment is debited for $25,453, and Notes Payable is credited for $19,177.
C) Cash is debited for $6,276, Equipment is debited for $19,177,and Notes Payable is credited for $25,453.
D) Cash is debited for $6,276, Equipment is credited for $19,177, and Notes Payable is debited for $12,901.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: The account title used for recording a
Q53: At the end of a month, a
Q59: In reviewing the T-account for Accounts Receivable,
Q70: All asset accounts and equity accounts increase
Q108: Which of the following statements is true
Q112: Amounts earned from delivering goods or services
Q130: For revenues,the category of account and its
Q144: The process of transferring data from the
Q145: For Office Supplies,the category of account and
Q207: Which of the following is the correct