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Lee Inc. purchased computer equipment for their offices costing $47,000. They also paid for delivery costs of $750 as well as installation and setup costs
Lee Inc. purchased computer equipment for their offices costing $47,000. They also paid for delivery costs of $750 as well as installation and setup costs of $1,500. Lee paid cash for all these items. Lee will record this purchase as follows: O A. Debit to Computer Equipment for $49,250; Credit to Cash for $49,250 O B. Debit to Computer Equipment for $47,000; Debit to Other Expenses for $2,250; Credit to Accounts Payable for $49,250 O C. Debit to Computer Equipment for $47,000; Credit to Cash for $47,000 O D. Debit to Computer Equipment for $47,000; Debit to Other Expenses for $2,250; Credit to Cash for $49,250
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