Question
Select the journal entry that correctly records the purchase of Motor Vehicle worth $120,000 by paying 20% cash and borrowing for the remaining. A. DR
Select the journal entry that correctly records the purchase of Motor Vehicle worth $120,000 by paying 20% cash and borrowing for the remaining.
| A. | DR Motor Vehicle 120,000 CR Cash $24,000 CR Loan $96,000
| |
| B. | DR Loan 96,000 DR Motor Vehicle 24,000 CR Cash 120,000
| |
| C. | DR Cash 96,000 DR Loan 24,000 CR Motor Vehicle 120,000
| |
| D. |
DR Cash 24000 DR Loan 96,000 CR Motor Vehicle 120,000
|
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Introduction To Management Accounting
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Dave Burgstahler, Jeff O. Schatzberg
16th Global Edition
0273790013, 978-0273790013
