18.

The Pull-lt vending store chain buys new candy machines for $450, 000 and pays $50, 000 for installation. One-half of the total cost is paid in cash; the other half is financed. How should the company record this transaction? Debit equipment for $450, 000, debit expenses for $50, 000, credit cash for $250, 000 and credit notes payable for $250, 000. Debit cash for $250, 000, debit notes payable for $250, 000 and credit equipment for $500, 000. Debit equipment for $500, 000, credit cash for $250, 000 and credit notes payable for $250, 000. Debit cash for $250, 000, debit notes payable for $250, 000 credit equipment for $450, 000, and credit expenses for $50, 000