bbhosted.cuny.edu Question Completion Status: QUESTION 23 On May 15, Blaskowski's Foodservice Corporation purchased of kitchen equipment for $30,000 paying $10,000 in cash the the remainder on account. The journal entry will look like? Ref Debit Credit 30,000 Date Account Title / Explanation 05/15 Equipment Cash Accounts Payable 10,000 20,000 Ref Debit Credit Date Account Title / Explanation 05/15 Equipment 30,000 Cash 10,000 Accounts Payable 20,000 Date Account Title / Explanation Ref Debit Credit 05/15 "Equipment 30,000 Cash 10,000 Accounts Payable 20,000 Ref Debit Credit Date Account Title / Explanation 05/15 Equipment 30,000 Cash 10,000 Accounts Payable 20,000 2.5 points Sav bbhosted.cuny.edu Question Completion Status: QUESTION 24 The economic entity assumption requires that the activities of different entities be combined if all the entities are corporations, all entities be reported to the Securities and Exchange Commission a sole proprietorship be combined with the personal economic events of its owners. an entity be kept separate from its owners' activities. 2.5 points Save QUESTION 25 The cost principle requires that when assets are acquired, they be recorded at appraisal value. exchange price paid. selling price. list price. 2.5 points QUESTION 26 The common characteristic possessed by all assets is long life. future economic benefit. tangible nature monetary value