The General Journal Entry to Record the Purchase of an Asset

question 134

Multiple Choice

The general journal entry to record the purchase of an asset on account would include

• A) a debit to Accounts Receivable and a credit to Fees Earned.
• B) a debit to Equipment and a credit to Accounts Payable.
• C) a debit to Accounts Payable and a credit to Equipment.
• D) a debit to Supplies and a credit to Cash.

---

Definitions:

Sexual Intercourse

A biological and physical act between two individuals that involves genital contact and the exchange of bodily fluids, often associated with reproduction and intimacy.

Early Maturation

The process of reaching physical and physiological development ahead of the average age timeline.

Intellectual Maturity

pertains to achieving a level of mental development characterized by the ability to think abstractly, critically, and independently, and to manage one's emotions and behaviors in complex social settings.

Popularity

Popularity refers to the state or condition of being liked, admired, or supported by many people.