Accountants at Amalgamated Corporation Incorrectly Journalized a $50,000 Equipment Purchase

Multiple Choice

Accountants at Amalgamated Corporation incorrectly journalized a $50,000 equipment purchase as a debit to Buildings.This error was not discovered before the journal entry was posted.What is the correcting entry?

A) Debit Buildings and Credit Equipment for $50,000 each
B) Debit Equipment and Credit Buildings for $50,000 each
C) Debit Buildings and Credit Equipment for $100,000 each
D) Debit Equipment and Credit Buildings for $100,000 each
E) Debit Equipment for $100,000 and Credit Buildings for $50,000