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Need help with basic financial system class. Question 31 (1 point) A business purchases a truck by signing a note payable to the seller Such
Need help with basic financial system class.
Question 31 (1 point) A business purchases a truck by signing a note payable to the seller Such a transaction would include a O debit to an expense account O debit to Note payable o credit to Note Payable O credit to Truck Question 32 (1 point) An owners' investment of land and a building into the business would include a O debit to Land and a credit to Building O debit to Building and a debit to Common shares O debit to Land and a credit to common shares o debit to common shares and a credit to Building Question 33 (1 point) purchasing a three-year insurance policy for cash would include a O debit to Prepaid Insurance and a credit to Accounts Payable O debit to Prepaid Insurance and a credit to Cash O debit to Insurance Expense and a credit to Dividends O debit to Cash and a credit to Accounts Receivable Question 34 (1 point) which type of account is credited when a company records a debt? O liability O retained earnings expense asset Question 35 (1 point) A dividend account is known as a contra equity account. O True C FalseStep by Step Solution
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