Which of the Following Is the Appropriate Journal Entry If

question 151

Multiple Choice

Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000?

• A)Debit to Cash,debit to Equipment,credit to Notes Payable.
• B)No entry should be made.
• C)Debit to Equipment,credit to Notes Payable,credit to Cash.
• D)Debit to Cash,debit to Notes Payable,credit to Equipment.
• E)Debit to Equipment,debit to Notes Payable,credit to Cash.

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