1. The journal entry to record the purchase of equipment for $660 and Furniture for $350 in a single transaction would include A. a debit to Equipment for $660, a credit to Furniture for $350, and a credit to Cash for $310. B. a debit to Equipment for $660, a debit to Furniture for $350, and a credit to Cash for $1,010. C. a debit to Cash for $1,010, a credit to Equipment for $660, and a credit to Furniture for $350. D. a debit to Equipment for $660 and a credit to Furniture for $350. 2. The journal entry to record an investment of cash by John Lee, owner of the business, would A. debit John Lee, Drawing and credit Cash B. debit Cash and credit John Lee, Capital C. debit Cash and credit John Lee, Drawing D. debit John Lee, capital and credit Cash 3. The Cash account has a $18,000 debit balance. A $3,000 credit entry and a $5,000 debit entry are posted to the account. The final balance of the Cash account is Multiple Choice A. $20,000 debit balance. B. $26.000 debit balance. C. $8,000 debit balance. D. $9,000 debit balance