Question Not yet answered On August 1, 2017 Homer Bates buys a copier machine for his business and makes this purchase with a cash down payment and issues a note payable for the balance. When journalizing this transaction, he will Marked out of 1.00 Flag question Select one: O List the credit entries first, which is proper form for this type of transaction O Use two journal entries. O Make a compound entry. O Make a simple entry. Previous page Next page Question 5 Not yet answered Marked out of 2.00 Rami. Anas, and Maher formed a partnership. When applicable, the articles of co-partnership state that salaries are to be paid first, interest on partners' capital second, with the remainder to be divided equally. Net income for the year was $800,000. The partnership agreement provides for salaries of $110,000 for Rami and $90,000 for Anas, with no interest paid on capital balances. Partner Rami's share of net income is $200,000 Flag question Select one: True O False Previous page Next page