MC Qu. 3-50 (Algo) A business purchases equipment costing... A business purchases equipment costing $7,300. They pay $1,400 right away and charge the remaining amount. To record this transaction, the business would Multiple Choice Debit Equipment $5,900, Credit Accounts Payable $5.900 Debit Equipment $7.300; Credit Accounts Payable $7,300 Debit Equipment $1,400; Credit Cash $1,400 Debit Equipment $7,300, Credit Cash $1,400 and Credit Accounts Payable $5,900