Chapter 2 Quiz (Algo MC) Help Save & Exi Submi 9 A company purchased equipment for use in the business at a cost of $13.500, one-ftth was paid in cash, and the company signed a note for the balance. The journal entry t Multiple Choice debit so Equipment of $2.700 credt to Noses Poyable of credit to Notes Peyable of $10,800 debt to Notes Payable of $10.800 debil to Cash of $13,500