Question
Equipment costing $19600 is purchased by paying $4900 cash and signing a note payable for the remainder. The journal entry to record this transaction should
Equipment costing $19600 is purchased by paying $4900 cash and signing a note payable for the remainder. The journal entry to record this transaction should include a
A. Credit to equipment
B. debit to cash
C. credit to notes payable
D. credit to notes receivable
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
10th Edition
B010IKDQZM
