1. The Burr Hotel engaged in the following transactions during August 2020. The correct journal entry to record transaction #3 is:

   		Debit Equipment for $9,000 and Credit Accounts Payable for $9,000
   		Debit Equipment for $9,000 and Credit Cash for $9,000
   		Debit Cash for $9,000 and Credit Equipment for $9,000
   		Debit Accounts Payable for $9,000 and Credit Equipment for $9,000

#1 Sold $1,500 worth of merchandise on credit. #2 Borrowed $3,000 from the bank. #3 Purchased $9,000 of kitchen equipment with cash. #4 Collected the $1,500 it was owed from transaction #1. #5 Paid back the bank for the loan from transaction #2 with $80 of interest