TransAm Mail Service Purchased Equipment for $2,500

question 154

Multiple Choice

TransAm Mail Service purchased equipment for $2,500. TransAm paid $400 in cash and signed a note for the balance. TransAm debited the Equipment account, credited Cash and

• A) nothing further must be done.
• B) debited the retained earnings account for $2,100.
• C) credited another asset account for $400.
• D) credited a liability account for $2,100.

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The ability to produce a desired or intended result, often used in contexts relating to psychology, medicine, and organizational performance.

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The process that initiates, guides, and maintains goal-oriented behaviors.

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A set of educational standards in mathematics and English language arts/literacy (ELA) that outline what students should know and be able to do at each grade level.

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