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Which Is the Best Explanation for This Journal Entry

Question 125

Multiple Choice

Which is the best explanation for this journal entry? A) Purchased equipment, paid cash of $5,000, with the remainder to be paid in payments. B) Purchased equipment, paid cash of $10,000, with the remainder to be received in the future. C) Purchased equipment, paid cash for the entire amount. D) Purchased equipment on credit. Which is the best explanation for this journal entry?


A) Purchased equipment, paid cash of $5,000, with the remainder to be paid in payments.
B) Purchased equipment, paid cash of $10,000, with the remainder to be received in the future.
C) Purchased equipment, paid cash for the entire amount.
D) Purchased equipment on credit.

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