The journal entry to record the purchase of equipment for a $120 cash down payment and a balance of $440 due in 30 days would include Multiple Choice debit to Equipment for $560 and a credit to Cash for $560. a debit to Equipment for $120 and a credit to Cash for $120. a debit to Equipment for $120 and a credit to Accounts Payable for $440 a debit to Equipment for $560, a credit to Cash for $120, and a credit to Accounts Payable for $440