QUESTION 20 Geode Company paid $50,000 cash to purchase a coal mine. Which of the following choices accurately reflects the journal entry to record the transaction? 1. a. Land $50,000 Cash $50,000 c b. Coal Mine $50,000 Accounts Payable $50,000 Coal Mine $50,000 Cash $50,000 d. Fixed Assets $50,000 Cash $50,000