MC Qu. 4-56 The journal entry to record the purchase of...

The journal entry to record the purchase of equipment for a $170 cash down payment and a balance of $540 due in 30 days would include

Multiple Choice

• debit to Equipment for $710 and a credit to Cash for $710.
• a debit to Equipment for $170 and a credit to Accounts Payable for $540.
• a debit to Equipment for $710, a credit to Cash for $170, and a credit to Accounts Payable for $540.
• a debit to Equipment for $170 and a credit to Cash for $170.